The bright side is that since today RadioShack. Did Radioshack Totally Go Out Of Business… has actually formally been bought by Retail Ecommerce Ventures (REV), offering the distressed business a brand-new lease on life. The drawback, at least 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 concentrates on online retail, having previously revamped the Internet presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your local strip mall. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults looking 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REV says they prepare to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this composing the website currently says that sales have been temporarily halted to permit inventory restructuring, though it’s unclear if this is directly 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 places in 2017 certainly seems like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they thought selling phones and Televisions was somehow a great concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. However all of us know how that story ended. While it does not look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a certain comfort in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another business that plans to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand globally.
REV declares it’s effectively turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody aiming to get tech essentials. For a very long time, that suggested real radio parts, but ended up consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping got here, and the company applied for personal bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “authorized” shops and sells top quality items within some places of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stick around. Did Radioshack Totally Go Out Of Business
REV says it will “soon relaunch” RadioShack’s website. 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 wish to purchase costly HDMI cables and knockoff headphones.