Fortunately is that since today RadioShack. Radioshack Electronics Learning Lab Workbook… has officially been acquired by Retail Ecommerce Ventures (REV), giving the troubled 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 iconic electronic devices seller to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually formerly revamped the Internet existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks 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 tough to disagree. There will be countless bored kids and adults looking for something to do throughout the long winter season nights, and an electronic set or two shipped to their door might be simply the important things.
REV states they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021.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 site presently says that sales have been temporarily stopped to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering most of their physical areas in 2017 definitely seems like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another company that prepares to relaunch the once-great retailer as an online-focused brand.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand name internationally.
REV claims 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 income in 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 seeking to grab tech basics. For a long period of time, that indicated real radio elements, but wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping arrived, and the company filed for bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “licensed” stores and sells top quality items within some locations 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 earlier. REV didn’t say whether those RadioShack licenses would stay. Radioshack Electronics Learning Lab Workbook
REV states it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you desire to buy pricey HDMI cable televisions and knockoff headphones.