(Bloomberg) -- Although RadioShack’s Twitter cover photo has “The Shack Is Back” emblazoned across it, @RadioShack on the social network is anything but the 100-year-old electronics retailer that generations of hobbyists frequented before the company filed for Chapter 11 in 2015, and again in 2017.
Acquired in 2020 by Retail Ecommerce Ventures, RadioShack has been reborn as a cryptocurrency company trying to putting itself on the map with shocking tweets, some now deleted.
With nearly a quarter-million likes, a purported intern for the company defended a deleted tweet that gave offensive marital advice: “I wanted to take a sec to reflect on my post. Ik your expecting me to say, in my wildest dreams I never thought that tweet would go viral and to apologize,” the person wrote, using an abbreviation for “I know.” The intern went on to insist the account hadn’t been hacked, said no one was fired for the earlier tweet and urged readers to “buckle up,” appending another expletive.
RadioShack’s parent is a Beverly Hills, California-based startup that specializes in turning struggling brick-and-mortar companies into e-commerce-only websites. Founded in 2019 by internet marketer Tai Lopez and Zoosk Inc. dating app co-founder Alex Mehr, the company boasts a portfolio of legacy brands that also includes Pier 1, Dressbarn, Modell’s Sporting Goods, Linens ’N Things and Stein Mart. It most recently acquired British luxury label Ralph & Russo and once considered buying the Blockbuster brand for $1.8 million.
But not all brands of dead retailers have met the same dubious fate.
Luxury clothiers Barneys New York and Brooks Brothers were recently acquired by Authentic Brands Group Inc., which also specializes in bringing new life to distressed brands. Barneys went on to live inside Saks Fifth Avenue stores, and Brooks Brothers was transitioned to a more casual line during the pandemic.
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