Fortunately is that as of today RadioShack. Radioshack Plaza Alameda… has formally been acquired by Retail Ecommerce Ventures (REV), providing the struggling 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 merchant to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having previously revamped the Web presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups trying to find something to do during the long winter season nights, and an electronic kit or more shipped to their door might be just the important things.
REV says they prepare to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this writing the site presently says that sales have actually been briefly stopped to enable inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering most of their physical areas in 2017 definitely seems 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 thought offering tvs and phones was in some way a good idea. 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 shops. However all of us know how that story ended. While it does not look 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 packages and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another company that prepares to relaunch the once-great merchant 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 brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand name globally.
REV declares it’s effectively turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the very 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 wanting to grab tech basics. For a long period of time, that meant actual radio parts, however wound up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping arrived, and the company declared insolvency two times in the past five years. RadioShack still accredits its name to third-party “licensed” shops and sells top quality items within some places of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” products at Kohl’s even though that merchant shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stay. Radioshack Plaza Alameda
REV says it will “quickly 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 want to purchase costly HDMI cables and knockoff headphones.