Fortunately is that as of today RadioShack. How Many Radioshack Stores Are Still Open 2019… has actually officially been purchased by Retail Ecommerce Ventures (REV), providing the troubled company a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no instant strategies to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually formerly revamped the Internet presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release does not outright 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 regional strip mall. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups looking for something to do throughout the long winter nights, and an electronic package or more shipped to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this writing the website currently says that sales have actually been temporarily stopped to allow for stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering the majority of their physical locations in 2017 certainly sounds like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they believed offering phones and TVs was in some way an excellent concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their shops. However we all understand how that story ended. While it does not appear 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 provided another shock of life today when they were acquired by another company that prepares 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 too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand globally.
REV claims it’s successfully turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. For a long time, that suggested actual radio elements, however wound up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping arrived, and the business filed for bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and sells top quality products within some areas of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stay. How Many Radioshack Stores Are Still Open 2019
REV states 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 enough place to go when you want to purchase pricey HDMI cables and knockoff headphones.