The good news is that as of today RadioShack. Are All Radioshacks Closed… has formally been purchased by Retail Ecommerce Ventures (REV), providing the struggling business a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronics seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually formerly revamped the Web presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local shopping center. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults searching for something to do during the long winter season nights, and an electronic set or more delivered to their door might be simply the important things.
REV says they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this composing the site currently says that sales have actually been momentarily stopped to enable inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they thought selling phones and Televisions was in some way a great idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. We all understand how that story ended. While it doesn’t appear like this news will get us any closer to having a community store that stocks resistors, there’s a particular convenience in knowing that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another business that prepares to relaunch the once-great seller as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand globally.
REV claims it’s effectively turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech basics. REV didn’t state whether those RadioShack licenses would stick around. Are All Radioshacks Closed
REV states it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar enough place to go when you want to purchase pricey HDMI cable televisions and knockoff earphones.