Fortunately is that as of today RadioShack. Radioshack Personal Fm Transmitter… has formally been purchased by Retail Ecommerce Ventures (REV), giving the struggling company a new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having previously revamped the Internet presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups searching for something to do throughout the long winter season nights, and an electronic kit or 2 shipped to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021.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 been briefly stopped to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering the majority of their physical areas in 2017 definitely seems like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another business that prepares to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants as well, 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 business is “confident” 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 between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody aiming to grab tech essentials. For a very long time, that implied real radio components, but ended up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping got here, and the company declared personal bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “authorized” shops and offers top quality items within some places of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” products at Kohl’s despite the fact that that retailer shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Personal Fm Transmitter
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you desire to purchase overpriced HDMI cables and knockoff earphones.