The bright side is that as of today RadioShack. Radioshack 26-402 Cover… has actually formally been purchased by Retail Ecommerce Ventures (REV), offering the struggling business a new lease on life. The drawback, at least for folks like us, is that there are no immediate strategies to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having actually formerly revamped the Web presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your local strip mall. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups looking for something to do during the long winter season nights, and an electronic package or two delivered to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this writing the website presently states that sales have been briefly halted to permit inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much product the business still has on hand after shuttering the majority of their physical locations in 2017 definitely sounds like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they believed selling tvs and phones was somehow a great concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their shops. However all of us understand how that story ended. While it doesn’t look like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a particular 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 bought by another business that plans to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up 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 site already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand name internationally.
REV declares it’s successfully turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 wanting to get tech fundamentals. For a very long time, that suggested actual radio components, however ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping showed up, and the business applied for bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and offers branded products within some locations of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” products at Kohl’s despite the fact that that retailer shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would remain. Radioshack 26-402 Cover
REV states it will “soon 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 desire to buy expensive HDMI cable televisions and knockoff headphones.