The good news is that as of today RadioShack. Radioshack Payment Address… has officially been purchased by Retail Ecommerce Ventures (REV), providing the troubled company a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually previously revamped the Web existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults searching for something to do during the long winter season nights, and an electronic set or two delivered to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this composing the website presently states that sales have 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 areas in 2017 certainly sounds like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they believed offering phones and TVs was in some way an excellent concept. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. We all understand how that story ended. While it does not appear like this news will get us any closer to having a community shop that stocks resistors, there’s a specific comfort in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another business that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand name worldwide.
REV declares it’s effectively turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech fundamentals. For a long time, that implied real radio parts, however ended up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping showed up, and the business filed for bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and sells branded items within some areas of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Payment Address
REV says it will “soon relaunch” RadioShack’s website. 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 purchase pricey HDMI cables and knockoff earphones.