Fortunately is that as of today RadioShack. How Many Radioshack Stores Are There In The Us… has actually officially been acquired by Retail Ecommerce Ventures (REV), giving the distressed business a brand-new lease on life. The disadvantage, a minimum of 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 suggests, REV concentrates on online retail, having previously revamped the Internet existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter nights, and an electronic kit or more delivered to their door might be just the important things.
REV says they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this writing the site currently says that sales have actually been temporarily stopped to allow for inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering the majority of their physical locations in 2017 definitely seems like something the new owners would want to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed offering phones and Televisions was in some way a great concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. We all know how that story ended. While it does not appear like this news will get us any closer to having a community shop that stocks resistors, there’s a specific convenience in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand worldwide.
REV declares it’s effectively turned around other companies it’s released 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 ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech basics. For a very long time, that suggested real radio parts, but ended up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping got here, and the company applied for insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and offers branded items within some locations of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would stay. How Many Radioshack Stores Are There In The Us
REV states it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient location to go when you desire to buy pricey HDMI cable televisions and knockoff headphones.