The good news is that as of today RadioShack. Is Radioshack Gone For Good?… has actually officially been bought by Retail Ecommerce Ventures (REV), providing the struggling company a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the iconic electronics retailer to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having previously revamped the Internet presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups trying to find something to do during the long winter season nights, and an electronic kit or 2 delivered to their door might be simply the important things.
REV states they prepare to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this composing the website presently says that sales have been temporarily stopped to enable stock restructuring, though it’s unclear if this is straight 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 certainly sounds like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
The shop’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 also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand name internationally.
REV claims it’s effectively turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to grab tech basics. For a very long time, that meant actual radio parts, but wound up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping showed up, and the business filed for bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and offers branded items within some areas of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would remain. Is Radioshack Gone For Good?
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you want to purchase pricey HDMI cable televisions and knockoff earphones.