Fortunately is that as of today RadioShack. Buen Fin 2019 Radioshack… has formally been purchased by Retail Ecommerce Ventures (REV), giving the distressed business a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate strategies to return the renowned electronics seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having formerly revamped the Internet existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t 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 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 countless bored kids and grownups searching for something to do throughout the long winter nights, and an electronic package or two delivered to their door might be just the important things.
REV states they prepare to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the site presently says that sales have actually been temporarily stopped to permit stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering the majority of their physical locations in 2017 definitely sounds like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they believed selling phones and TVs was in some way an excellent concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. However we all know how that story ended. While it does not appear like this news will get us any closer to having a community shop that stocks resistors, there’s a particular comfort in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another company that plans to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand name internationally.
REV declares it’s successfully reversed other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the second and 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 get tech fundamentals. For a very long time, that implied real radio parts, but wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping showed up, and the company applied for bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “authorized” stores and offers branded items within some locations of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would remain. Buen Fin 2019 Radioshack
REV states it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to purchase pricey HDMI cable televisions and knockoff earphones.