The bright side is that since today RadioShack. Radioshack 33 4050… has formally been bought by Retail Ecommerce Ventures (REV), providing the struggling company a brand-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 specializes in online retail, having formerly revamped the Web existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent 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 action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups looking for something to do during the long winter nights, and an electronic package or 2 shipped to their door might be simply the thing.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this composing the website presently says that sales have been briefly stopped to permit inventory restructuring, though it’s unclear if this is directly 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 locations in 2017 certainly seems like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were purchased by another business that prepares to relaunch the once-great retailer as an online-focused brand name.
The shop’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 too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name worldwide.
REV declares it’s effectively turned around other companies 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 anyone seeking to get tech basics. For a long time, that meant real radio elements, but wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping got here, and the business declared bankruptcy twice in the past five years. RadioShack still certifies its name to third-party “licensed” shops and offers top quality items within some areas of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would stick around. Radioshack 33 4050
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar enough place to go when you wish to purchase costly HDMI cable televisions and knockoff headphones.