The bright side is that since today RadioShack. Did Radioshack Go Out Of Bussines… has formally been purchased by Retail Ecommerce Ventures (REV), providing the distressed company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually previously revamped the Web presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults trying to find something to do throughout the long winter nights, and an electronic kit or 2 shipped to their door might be simply the important things.
REV says they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this writing the site currently states that sales have actually been temporarily halted to permit inventory restructuring, though it’s uncertain 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 most 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 before they thought offering phones and Televisions was somehow a good idea. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. However all of us understand how that story ended. While it does not look like this news will get us any closer to having a community store that stocks resistors, there’s a particular comfort in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were purchased by another company that prepares 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 brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand worldwide.
REV claims it’s effectively reversed other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income 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 grab tech essentials. For a very long time, that meant real radio elements, but ended up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping got here, and the company declared insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and sells top quality items within some areas of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stick around. Did Radioshack Go Out Of Bussines
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 location to go when you want to purchase pricey HDMI cable televisions and knockoff earphones.