Fortunately is that as of today RadioShack. Did Radioshack Close All Its Stores… has formally been acquired by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate plans to return the iconic electronics retailer to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually formerly revamped the Web presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your local strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups trying to find something to do during the long winter season nights, and an electronic package or more shipped 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 business’s 100th anniversary in 2021. As of this composing the site presently states that sales have been momentarily halted to permit inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much product the business still has on hand after shuttering the majority of their physical locations in 2017 definitely seems like something the new owners would want to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed selling televisions and phones was somehow an excellent concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. We all understand how that story ended. While it doesn’t look like this news will get us any closer to having an area store that stocks resistors, there’s a particular comfort in knowing that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were bought by another company that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand name worldwide.
REV declares it’s successfully turned around other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 anyone aiming to get tech basics. For a very long time, that suggested real radio parts, but wound up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping showed up, and the business declared personal bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “licensed” shops and offers branded products within some places of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stay. Did Radioshack Close All Its Stores
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar enough place to go when you want to buy expensive HDMI cable televisions and knockoff earphones.