Fortunately is that as of today RadioShack. Bocina Portatil Radioshack… has formally been bought by Retail Ecommerce Ventures (REV), providing the struggling company a brand-new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having previously revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups trying to find something to do during the long winter season nights, and an electronic package or two delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this writing the website presently says that sales have been momentarily stopped to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were acquired by another business that plans to relaunch the once-great seller 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 Product, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand name globally.
REV declares it’s effectively turned around other business it’s launched as online brands. 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 ended up being a retail staple in the ’80s and ’90s for anyone aiming to grab tech essentials. For a long time, that meant real radio components, but ended up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping got here, and the company declared personal bankruptcy twice in the past five years. RadioShack still accredits its name to third-party “authorized” stores and sells branded products within some locations 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 years earlier. REV didn’t say whether those RadioShack licenses would remain. Bocina Portatil Radioshack
REV says it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you want to purchase overpriced HDMI cables and knockoff earphones.