Fortunately is that since today RadioShack. Radioshack Peking Illinois… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the distressed business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the iconic electronic devices seller to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having previously revamped the Internet presence of other bankrupt businesses 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 difficult to disagree. There will be millions of bored kids and adults looking for something to do throughout the long winter nights, and an electronic set or more delivered to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this composing the site currently says that sales have been temporarily halted to permit inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering most of their physical locations in 2017 definitely sounds like something the new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they thought selling phones and Televisions was in some way an excellent idea. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. We all understand how that story ended. While it doesn’t appear like this news will get us any closer to having an area store that stocks resistors, there’s a certain convenience in knowing that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were acquired by another business that prepares to relaunch the once-great seller as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand internationally.
REV claims it’s effectively turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone seeking to grab tech essentials. For a very long time, that implied real radio components, however ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping showed up, and the business declared bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “licensed” shops and sells top quality items within some places of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Peking Illinois
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you want to purchase expensive HDMI cables and knockoff earphones.