Fortunately is that as of today RadioShack. Do They Have A Radioshack In Prestonsburg… has formally been bought by Retail Ecommerce Ventures (REV), providing the troubled company a new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the renowned electronics seller to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually previously revamped the Internet existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local 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 millions of bored kids and adults searching for something to do throughout the long winter season nights, and an electronic set or 2 delivered to their door might be simply the important things.
REV says they plan to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this composing the site currently states that sales have actually been temporarily halted to permit 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 company still has on hand after shuttering the majority of their physical areas in 2017 certainly seems like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they believed selling phones and TVs was in some way a good concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. However we all know how that story ended. While it does not look like this news will get us any closer to having a community shop that stocks resistors, there’s a specific convenience in knowing that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another business that plans to relaunch the once-great merchant as an online-focused brand name.
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 Item, 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 name globally.
REV declares it’s successfully reversed other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to get tech basics. For a very long time, that suggested actual 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 greatly as online shopping showed up, and the business applied for bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” shops and offers branded items within some places of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. Do They Have A Radioshack In Prestonsburg
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough location to go when you desire to buy overpriced HDMI cables and knockoff earphones.