The bright side is that as of today RadioShack. Does Radioshack Still Exist”… has actually formally been bought by Retail Ecommerce Ventures (REV), offering the troubled company a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Web presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups trying to find something to do throughout the long winter season 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 site just in 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 a precise count of just how much merchandise the company still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another business that plans to relaunch the once-great seller 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 brand names 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 capacity,” and the company is “confident” it can even more raise awareness of the brand globally.
REV declares it’s successfully turned around other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 seeking to get tech fundamentals. For a very long time, that indicated actual radio elements, however wound up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping arrived, and the company declared bankruptcy twice in the past five years. RadioShack still accredits its name to third-party “authorized” stores and sells branded items within some places of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would stay. Does Radioshack Still Exist”
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you want to purchase costly HDMI cable televisions and knockoff headphones.