Fortunately is that as of today RadioShack. Is There A Radioshack Store In Traverse City Area… has actually formally been purchased by Retail Ecommerce Ventures (REV), giving the troubled company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having previously revamped the Internet existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out preclude the possibility of new physical RadioShack areas, 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 millions of bored kids and adults looking for something to do throughout the long winter season nights, and an electronic package or more delivered to their door might be simply the thing.
REV says they plan to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this writing the website presently says that sales have actually been momentarily halted to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much product the business still has on hand after shuttering most of their physical locations in 2017 definitely seems like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they thought offering televisions and phones was somehow 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. But we all understand how that story ended. While it doesn’t appear like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a certain convenience in knowing that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were purchased by another company that prepares to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand globally.
REV claims it’s effectively reversed other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. For a very long time, that implied actual radio elements, however wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping got here, and the business declared personal bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “authorized” stores and sells top quality products within some areas of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would remain. Is There A Radioshack Store In Traverse City Area
REV states it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you want to buy expensive HDMI cable televisions and knockoff earphones.