The bright side is that as of today RadioShack. Marco De Fotos Digital Radioshack… has actually officially been purchased by Retail Ecommerce Ventures (REV), offering the distressed company a new lease on life. The downside, a minimum of for folks like us, is that there are no instant strategies to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Internet existence of other insolvent businesses 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 even more lockdowns in response 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 throughout the long winter season nights, and an electronic package or two shipped to their door might be just the important things.
REV states they plan to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this writing the site presently says that sales have been momentarily stopped to enable inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering most of their physical locations in 2017 certainly seems like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another company that plans to relaunch the once-great retailer as an online-focused brand.
The store’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, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand globally.
REV declares it’s successfully reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech fundamentals. For a very long time, that indicated real radio parts, however ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping showed up, and the business applied for bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and offers top quality products within some locations of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stick around. Marco De Fotos Digital Radioshack
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough place to go when you want to purchase overpriced HDMI cables and knockoff headphones.