The good news is that as of today RadioShack. Radioshack Parts Drawers… has officially been purchased by Retail Ecommerce Ventures (REV), offering the struggling business a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the renowned electronics seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually formerly revamped the Internet existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your local shopping center. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults trying to find something to do during the long winter season nights, and an electronic set or more delivered to their door might be just the thing.
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 composing the website presently says that sales have actually been briefly stopped to permit 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 the majority of their physical places in 2017 certainly seems like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another company that plans to relaunch the once-great merchant as an online-focused brand.
The store’s remains were bought 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 Goods, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand name worldwide.
REV declares it’s successfully turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in 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 anyone seeking to get tech basics. For a long time, that meant actual radio parts, however ended up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping showed up, and the company filed for personal bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” shops and sells branded products within some places of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would remain. Radioshack Parts Drawers
REV states it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you wish to buy expensive HDMI cable televisions and knockoff headphones.