The good news is that since today RadioShack. Radioshack Motor Shield… has actually officially been purchased by Retail Ecommerce Ventures (REV), offering the struggling company a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually formerly revamped the Internet presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out 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 United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults searching for something to do throughout the long winter season nights, and an electronic set or two delivered to their door might be just the important things.
REV states they prepare to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this composing the site currently states that sales have actually been temporarily halted to allow for inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering most of their physical locations in 2017 definitely sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another company that plans to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants as well, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand worldwide.
REV claims it’s successfully turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income 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 anybody looking to grab tech essentials. For a long time, that implied real radio elements, but wound up consisting of 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 insolvency twice in the past five years. RadioShack still licenses its name to third-party “authorized” shops and offers branded items within some places of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Motor Shield
REV says it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to buy costly HDMI cables and knockoff earphones.