Fortunately is that as of today RadioShack. Radioshack Part Search… has actually formally been bought by Retail Ecommerce Ventures (REV), giving the troubled company a new lease on life. The drawback, a minimum of 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 actually formerly revamped the Web presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local shopping center. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults looking for something to do during the long winter nights, and an electronic kit or more shipped to their door might be simply the thing.
REV states they plan to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this composing the site presently says that sales have been briefly halted to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering most of their physical locations in 2017 definitely sounds like something the new owners would wish to do.
We all know how that story ended.
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 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, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand name worldwide.
REV claims it’s successfully turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody wanting to get tech basics. For a long time, that implied actual radio elements, but ended up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually 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 “licensed” shops and sells top quality products within some locations of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Part Search
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you want to purchase costly HDMI cable televisions and knockoff headphones.