The good news is that as of today RadioShack. Radioshack Model: Pro-136 Specs… has actually formally been bought by Retail Ecommerce Ventures (REV), offering the distressed company a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having formerly revamped the Internet existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults searching for something to do throughout the long winter nights, and an electronic package or more shipped to their door might be just the thing.
REV states they plan to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this composing the website presently says that sales have been briefly stopped to permit inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the company still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another company that plans to relaunch the once-great retailer 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 Item, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand internationally.
REV declares it’s successfully reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to get tech essentials. For a long time, that implied actual radio elements, however wound up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping showed up, and the company filed for bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “licensed” shops and offers top quality items within some locations of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” products at Kohl’s even though that seller shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stay. Radioshack Model: Pro-136 Specs
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough place to go when you desire to purchase costly HDMI cables and knockoff earphones.