The bright side is that as of today RadioShack. Radioshack Company Owned Stores… has actually officially been purchased by Retail Ecommerce Ventures (REV), giving the struggling company a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no instant plans to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having formerly revamped the Web existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out 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 strip mall. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups trying to find something to do during the long winter nights, and an electronic set or two shipped to their door might be just the thing.
REV says they plan to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this writing the website currently says that sales have actually been temporarily halted to allow for stock 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 locations in 2017 certainly sounds like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another business that prepares to relaunch the once-great retailer 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 too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand name internationally.
REV declares it’s successfully turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 anybody looking to grab tech basics. For a long period of time, that indicated real radio elements, however wound up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping arrived, and the company declared personal bankruptcy two times in the past 5 years. RadioShack still certifies its name to third-party “licensed” stores and offers branded products within some locations of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Company Owned Stores
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough place to go when you desire to buy pricey HDMI cable televisions and knockoff headphones.