Fortunately is that as of today RadioShack. Radioshack Mini Stores… has officially been bought by Retail Ecommerce Ventures (REV), providing the distressed business a new lease on life. The drawback, at least 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 indicates, 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 doesn’t outright prevent the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups looking for something to do during the long winter season nights, and an electronic kit or more delivered to their door might be just the important things.
REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this composing the site presently says that sales have been briefly halted to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering most of their physical locations in 2017 certainly seems like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they thought offering phones and TVs was in some way a good concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish 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 community store that stocks resistors, there’s a specific convenience in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were purchased by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup 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 says RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand name globally.
REV declares it’s successfully turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody aiming to grab tech fundamentals. For a very long time, that suggested real radio components, however wound up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping got here, and the company applied for bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “authorized” shops and sells branded products within some areas of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Mini Stores
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you want to purchase overpriced HDMI cables and knockoff headphones.