The bright side is that since today RadioShack. Cost To Operate A Radioshack… has actually formally been bought by Retail Ecommerce Ventures (REV), providing the struggling company a new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the iconic electronics seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having formerly revamped the Web presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard 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 package or two delivered to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this composing the site presently states that sales have actually been briefly halted to enable inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of how much merchandise the business still has on hand after shuttering most of their physical places in 2017 certainly sounds like something the new owners would want to do.
We all understand how that story ended.
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 retailer as an online-focused brand.
The store’s remains were purchased 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 states RadioShack’s website already has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand name worldwide.
REV declares 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 profits 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 anybody seeking to get tech fundamentals. For a long time, that indicated real radio components, however wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping got here, and the business filed for bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” stores and sells branded items within some locations of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would remain. Cost To Operate A Radioshack
REV states it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient location to go when you desire to purchase overpriced HDMI cables and knockoff earphones.