The good news is that as of today RadioShack. Radioshack Open Near Me… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the distressed business a 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 concentrates on online retail, having actually previously revamped the Internet presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of brand-new physical RadioShack places, 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 tough to disagree. There will be countless bored kids and adults looking for something to do during the long winter season nights, and an electronic package or more shipped to their door might be just the important things.
REV says they plan to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this writing the site currently says that sales have actually been temporarily stopped to permit stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they thought selling televisions and phones was somehow a great concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d want 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 an area shop that stocks resistors, there’s a specific comfort in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand worldwide.
REV declares 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 earnings between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Open Near Me
REV says 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.