The bright side is that since today RadioShack. Radioshack Matamoros… has actually formally been acquired by Retail Ecommerce Ventures (REV), providing the troubled business a brand-new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the renowned electronics seller to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually previously revamped the Web existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups searching for something to do throughout the long winter nights, and an electronic kit or more shipped to their door might be simply the thing.
REV states they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this writing the website currently says that sales have actually been temporarily stopped to allow for stock restructuring, though it’s uncertain if this is directly 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 brand-new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they thought offering phones and Televisions was somehow an excellent concept. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their shops. However all of us understand how that story ended. While it does not appear like this news will get us any closer to having an area store that stocks resistors, there’s a certain convenience in knowing that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were acquired by another business that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand worldwide.
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 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. For a long period of time, that meant real radio components, but wound up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping showed up, and the business applied for insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and offers top quality items within some places of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” items at Kohl’s although that seller shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would remain. Radioshack Matamoros
REV states it will “quickly 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 expensive HDMI cable televisions and knockoff earphones.