Fortunately is that as of today RadioShack. Radioshack Ocala Mall… has formally been bought by Retail Ecommerce Ventures (REV), providing the troubled company a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no immediate plans to return the renowned electronics merchant to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually previously revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups looking for something to do during the long winter season nights, and an electronic kit or 2 shipped to their door might be simply the important things.
REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021.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 states that sales have been briefly stopped to enable inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering the majority of their physical places in 2017 definitely sounds like something the new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to 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 does not appear like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a particular convenience in knowing that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another business that plans to relaunch the once-great retailer as an online-focused brand name.
The shop’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 as well, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states 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 worldwide.
REV declares it’s successfully turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 looking to get tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Ocala Mall
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you wish to buy pricey HDMI cables and knockoff headphones.