Fortunately is that as of today RadioShack. Radioshack Passive Infrared Alarm 49-329 Keeps Detecting Motion… has formally been bought by Retail Ecommerce Ventures (REV), giving the distressed business a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having previously revamped the Internet presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups trying to find something to do during the long winter nights, and an electronic package or two 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 business’s 100th anniversary in 2021. As of this composing the website currently says that sales have actually been momentarily halted to enable stock 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 places in 2017 certainly seems like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were bought by another company 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 startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand name globally.
REV claims it’s successfully reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 aiming to get tech fundamentals. For a very long time, that implied real radio elements, however wound up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping arrived, and the business declared insolvency two times in the past five years. RadioShack still licenses its name to third-party “authorized” shops and offers branded items within some places of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stay. Radioshack Passive Infrared Alarm 49-329 Keeps Detecting Motion
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 want to purchase pricey HDMI cable televisions and knockoff earphones.