Fortunately is that as of today RadioShack. Radioshack Best Buy… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the troubled business a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the renowned electronics seller to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having formerly revamped the Web existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. 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 adults looking for something to do during the long winter nights, and an electronic package or two delivered to their door might be simply the thing.
REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this composing the website currently states that sales have been momentarily halted to enable inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed offering phones and Televisions was somehow a great idea. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. However all of us understand how that story ended. While it does not appear like this news will get us any closer to having a neighborhood store 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 given another jolt of life today when they were bought by another company that plans to relaunch the once-great seller as an online-focused brand.
The shop’s remains were acquired 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, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “confident” it can further 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 profits between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech fundamentals. For a long period of time, that indicated real radio components, but ended up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping showed up, and the company applied for bankruptcy two times in the past 5 years. RadioShack still certifies its name to third-party “licensed” stores and offers branded items within some locations of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would remain. Radioshack Best Buy
REV says it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient location to go when you want to purchase overpriced HDMI cables and knockoff headphones.