The good news is that since today RadioShack. Radioshack Pennsville New Jersey… has officially been purchased by Retail Ecommerce Ventures (REV), giving the troubled company a brand-new lease on life. The drawback, at least for folks like us, is that there are no immediate strategies to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually previously revamped the Web presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude 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 regional strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic kit or more shipped to their door might be just the important things.
REV states they plan to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website currently says that sales have actually been briefly halted to enable stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise 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.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they believed offering phones and Televisions was in some way a great concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. But all of us know how that story ended. While it doesn’t appear like this news will get us any closer to having a community shop that stocks resistors, there’s a particular convenience in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were bought by another business 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 startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand name worldwide.
REV claims it’s effectively reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech basics. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Pennsville New Jersey
REV states it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient place to go when you wish to purchase pricey HDMI cables and knockoff headphones.