Fortunately is that since today RadioShack. Is Radioshack Still Open For Business… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the troubled business a new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually formerly revamped the Internet existence of other insolvent organizations 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 local shopping center. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups looking for something to do throughout the long winter nights, and an electronic set or more shipped to their door might be simply the thing.
REV says they plan to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the website presently says that sales have been briefly halted to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering the majority of their physical places in 2017 definitely sounds like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they thought offering tvs and phones was in some way a great idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. However we all know how that story ended. While it does not look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a specific convenience in knowing that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another business that prepares to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup 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 says RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand name worldwide.
REV claims it’s effectively turned around other business it’s released as online brand names. 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 ended up being a retail staple in the ’80s and ’90s for anybody aiming to get tech basics. For a very long time, that suggested real radio components, however wound up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping arrived, and the company declared insolvency twice in the past five years. RadioShack still certifies its name to third-party “authorized” stores and offers branded products within some locations of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would remain. Is Radioshack Still Open For Business
REV states it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you want to buy overpriced HDMI cable televisions and knockoff earphones.