The good news is that as of today RadioShack. Radioshack Opens Doors… has actually formally been acquired 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 instant plans to return the iconic electronics seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having previously revamped the Web existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your local strip mall. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard 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 2 shipped to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this writing the website presently says that sales have actually been temporarily halted to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering most of their physical places in 2017 definitely sounds like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another business that prepares to relaunch the once-great seller as an online-focused brand.
The store’s remains were acquired 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 says RadioShack’s website 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 successfully turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to grab tech fundamentals. For a very long time, that meant actual radio parts, but wound up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping got here, and the business filed for personal bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and offers top quality products within some areas of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” items at Kohl’s despite the fact that that seller shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stay. Radioshack Opens Doors
REV states it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough location to go when you want to buy overpriced HDMI cable televisions and knockoff headphones.