The bright side is that as of today RadioShack. Is Radioshack Still In Business… has officially been bought by Retail Ecommerce Ventures (REV), providing the distressed business a new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the iconic electronics seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having previously revamped the Internet presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of brand-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 even more lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic kit or two shipped to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this composing the site presently states that sales have actually been temporarily halted 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 most of their physical places in 2017 definitely sounds like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another company that prepares to relaunch the once-great merchant as an online-focused brand.
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 as well, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently 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 brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody wanting to get tech fundamentals. For a long time, that meant real radio parts, but wound up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping arrived, and the business filed for insolvency two times in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and offers branded products within some places of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stick around. Is Radioshack Still In Business
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 adequate place to go when you want to buy overpriced HDMI cables and knockoff earphones.