The bright side is that as of today RadioShack. Radioshack Open On Easter… has actually officially been purchased by Retail Ecommerce Ventures (REV), offering the troubled company a brand-new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having previously revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t 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 shopping center. As the United States mulls even more lockdowns in response 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 states they prepare to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the site currently says that sales have been briefly halted to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the business still has on hand after shuttering most of their physical areas 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 believed selling phones and TVs was in some way a great concept. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. We all understand how that story ended. While it doesn’t appear like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a particular comfort in knowing that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were bought by another company that prepares to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand globally.
REV claims it’s effectively reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the first and second quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Open On Easter
REV says it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you want to buy overpriced HDMI cable televisions and knockoff headphones.