The bright side is that as of today RadioShack. Does Anyone Still Shop At Radioshack… has actually formally been acquired by Retail Ecommerce Ventures (REV), providing the troubled business a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronic devices seller to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having formerly revamped the Web presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults looking for something to do during the long winter nights, and an electronic kit or two delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this writing the website currently says that sales have actually been temporarily halted to permit stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering most of their physical places in 2017 certainly seems like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another jolt 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 bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand name internationally.
REV claims it’s effectively turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in 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 aiming to grab tech fundamentals. For a long period of time, that implied real radio parts, but ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping showed up, and the company applied for bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and sells branded products within some places of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stick around. Does Anyone Still Shop At Radioshack
REV says it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient location to go when you wish to purchase overpriced HDMI cable televisions and knockoff earphones.