The good news is that since today RadioShack. Are There Still Radioshack Stores?… has formally been acquired by Retail Ecommerce Ventures (REV), giving the distressed company a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant strategies to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having previously revamped the Web presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your local strip mall. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter nights, and an electronic set or 2 delivered to their door might be just the important things.
REV says they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this composing the site presently states that sales have actually been temporarily halted to permit stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering most of their physical areas in 2017 definitely seems like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another company that plans to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants as well, consisting of 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 “confident” it can further raise awareness of the brand worldwide.
REV declares it’s successfully turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody seeking to grab tech essentials. For a long period of time, that suggested actual radio elements, however ended up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping showed up, and the business declared insolvency twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and sells top quality items within some places of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would remain. Are There Still Radioshack Stores?
REV states it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you desire to purchase expensive HDMI cables and knockoff earphones.