The good news is that since today RadioShack. Are Ther Any Radioshack Store Still Open… has actually officially been purchased by Retail Ecommerce Ventures (REV), giving the struggling business a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no immediate plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having previously revamped the Web presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional shopping center. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups looking for something to do throughout the long winter nights, and an electronic set or 2 shipped to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this composing the website presently says that sales have actually been momentarily halted to enable inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering the majority of their physical locations in 2017 definitely seems like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another company that plans to relaunch the once-great merchant as an online-focused brand.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand name worldwide.
REV claims it’s successfully turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 aiming to grab tech essentials. For a long period of time, that implied real radio parts, however wound up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping got here, and the business declared bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “licensed” shops and offers top quality products within some locations of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would stick around. Are Ther Any Radioshack Store Still Open
REV states it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar adequate location to go when you wish to purchase costly HDMI cables and knockoff earphones.