The good news is that since today RadioShack. Radioshack Gran Sur… has officially been bought by Retail Ecommerce Ventures (REV), giving the distressed company a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the renowned electronics merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Internet 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 believes the future of retail isn’t to be found in your local shopping center. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough 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 2 shipped to their door might be just the important things.
REV says they prepare to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this writing the website currently states that sales have actually been momentarily stopped to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they thought offering phones and TVs was somehow an excellent concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. We all understand how that story ended. While it doesn’t appear like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a particular comfort in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were bought by another company that prepares to relaunch the once-great seller 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 too, 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 even more raise awareness of the brand name worldwide.
REV declares it’s successfully reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to grab tech basics. For a long time, that implied actual radio parts, however wound up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping got here, and the company filed for personal bankruptcy two times in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and sells branded products within some places of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stay. Radioshack Gran Sur
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you wish to buy overpriced HDMI cable televisions and knockoff headphones.