The bright side is that since today RadioShack. Radioshack Plaza Patio Saltillo… has actually officially been bought by Retail Ecommerce Ventures (REV), offering the struggling company 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 renowned electronics retailer to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually formerly revamped the Internet existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude 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 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 millions of bored kids and adults looking for something to do during the long winter nights, and an electronic package or more shipped to their door might be simply the thing.
REV says they prepare to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this writing the website currently states that sales have actually 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 just how much merchandise the company still has on hand after shuttering most of their physical locations in 2017 definitely seems like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed offering phones and TVs was somehow a great idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. We all understand how that story ended. While it does not look like this news will get us any closer to having an area shop that stocks resistors, there’s a specific comfort in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were purchased by another business that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand name worldwide.
REV declares it’s successfully reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 anyone aiming to get tech fundamentals. For a very long time, that indicated real 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 business filed for bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and sells top quality items within some places of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would remain. Radioshack Plaza Patio Saltillo
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you wish to purchase pricey HDMI cable televisions and knockoff earphones.