The good news is that as of today RadioShack. Radioshack C… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the troubled company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually formerly revamped the Web existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local shopping center. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups searching for something to do throughout the long winter season nights, and an electronic set or two delivered to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this writing the website currently says that sales have been momentarily stopped to permit 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 company still has on hand after shuttering the majority of their physical places in 2017 definitely sounds like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought selling televisions and phones was in some way an excellent concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. However we all know how that story ended. While it does not appear like this news will get us any closer to having a community 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 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 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 Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand internationally.
REV declares it’s successfully turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech fundamentals. For a very long time, that meant actual radio elements, however ended up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping got here, and the company declared insolvency two times in the past five years. RadioShack still accredits its name to third-party “authorized” shops and offers top quality items within some places of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stay. Radioshack C
REV states 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 place to go when you desire to purchase expensive HDMI cables and knockoff earphones.