The bright side is that since today RadioShack. Radioshack Oakland Ca Fruitvale… has officially been purchased by Retail Ecommerce Ventures (REV), providing the troubled company a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually previously revamped the Internet existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude 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 further lockdowns in reaction 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 during the long winter season nights, and an electronic set or more delivered to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this composing the site presently states that sales have actually been briefly stopped to permit stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the 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 acquired by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
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 also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand name internationally.
REV declares it’s effectively turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech basics. For a long time, that meant real radio parts, but ended up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping got here, and the company applied for personal bankruptcy two times in the past 5 years. RadioShack still certifies its name to third-party “licensed” shops and sells branded products within some places of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Oakland Ca Fruitvale
REV states it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you wish to buy pricey HDMI cable televisions and knockoff headphones.