The bright side is that since today RadioShack. Radioshack Dealer 22B973 Johnmag4U Llc… has actually officially been bought by Retail Ecommerce Ventures (REV), offering the troubled company a new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the renowned electronics retailer to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually formerly revamped the Web existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your local shopping center. As the United States 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 adults trying to find something to do throughout the long winter season nights, and an electronic package or more delivered to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this composing the website presently says that sales have actually been momentarily halted to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering the majority of their physical locations in 2017 definitely seems like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought offering tvs and phones was in some way a good idea. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. But we all know how that story ended. While it does not look like this news will get us any closer to having an area shop that stocks resistors, there’s a certain comfort in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another business that plans to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were bought 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 website currently has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand worldwide.
REV claims it’s successfully turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech basics. For a long time, that suggested real radio parts, however ended up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping showed up, and the business applied for bankruptcy two times in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and sells branded products within some areas of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that retailer shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Dealer 22B973 Johnmag4U Llc
REV says it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you wish to buy overpriced HDMI cable televisions and knockoff headphones.