The bright side is that as of today RadioShack. Radioshack Cuernavaca… has actually formally been purchased 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 immediate plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having previously revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your local strip mall. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults trying to find something to do during the long winter season nights, and an electronic set or more delivered to their door might be simply the thing.
REV states they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this writing the website presently says that sales have actually been temporarily halted to permit stock 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 most of their physical places in 2017 definitely sounds like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were acquired by another business that prepares to relaunch the once-great merchant as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands 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 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 earnings between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone aiming to grab tech fundamentals. For a very long time, that indicated actual radio elements, however wound up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping showed up, and the company declared bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “authorized” shops and sells top quality items within some places of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” products at Kohl’s although that seller shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stay. Radioshack Cuernavaca
REV says 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 adequate place to go when you desire to buy overpriced HDMI cables and knockoff headphones.