‘Zombie’ RadioShack is reborn as a crypto company

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Reports of RadioShack’s demise have been greatly exaggerated as the former electronics retailer announced plans to become a DeFi platform.

The century-old company, which has twice filed for bankruptcy, said on its new website that “we will be the bridge between the CEOs who run the world’s businesses and the new world of cryptocurrency.”

Retail Ecommerce Ventures, a holding company owned by Tai Lopez and Alex Mehr, acquired RadioShack last year.

The company said on its website that “we strongly believe that we can leverage e-commerce to turn iconic brands of the past into behemoths of modern times.” The company also owns the Pier 1, Dressbarn and Modell’s brands.

RadioShack said it intended to be “the first protocol to come into common use in the history of DeFi”.

“RadioShack DeFi focuses on the early majority,” the company said. “It will become the first to market a century-old brand recognized in virtually all 190+ countries around the world. “

The new RadioShack recognized its old-fashioned retail roots by nodding to the 8,000 stores it closed in the United States alone.

“Despite the original brand’s closure as an electronics retailer, its recognition has hardly diminished and is still active in South America, the Middle East and online globally as a trade store. electronics, ”the company said.

The new company even returned to the glory days of its 2014 Super Bowl commercial titled “The 80s Called: They Want Their Store Back.”

RadioShack said its focus is for distribution and use by “millions of individuals but perhaps more importantly, by hundreds of large blue chip companies as a gateway to becoming blockchain companies.”

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