The good news is that as of today RadioShack. Radioshack Philadelphia Center City… has officially been bought by Retail Ecommerce Ventures (REV), giving the troubled business a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate strategies to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having previously revamped the Internet existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional shopping center. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter nights, and an electronic kit or more shipped to their door might be just the thing.
REV says they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this writing the site currently states that sales have been briefly halted to permit stock restructuring, though it’s unclear if this is straight 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 certainly sounds like something the new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed offering phones and Televisions was in some way an excellent concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. However we all understand how that story ended. While it does not appear like this news will get us any closer to having a community store that stocks resistors, there’s a particular convenience in knowing that RadioShack books and sets 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 also, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand globally.
REV declares it’s successfully turned around other business it’s released as online brand names. 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 became a retail staple in the ’80s and ’90s for anyone looking to grab tech basics. For a long period of time, that suggested real radio parts, but wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping got here, and the company filed for bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and sells branded items within some places of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” products at Kohl’s although that seller shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Philadelphia Center City
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough place to go when you want to buy pricey HDMI cables and knockoff earphones.