The good news is that since today RadioShack. Radioshack Png… has actually formally been purchased by Retail Ecommerce Ventures (REV), giving 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 previously revamped the Internet existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of new physical RadioShack locations, 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 reaction to the continuing COVID-19 pandemic, it’s hard 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 set or 2 shipped to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this composing the site presently states 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 an accurate count of how much product the business still has on hand after shuttering most of their physical places in 2017 certainly sounds like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they believed selling televisions and phones was somehow an excellent idea. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. We all know 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 particular comfort in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were bought by another business that plans to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand name worldwide.
REV claims it’s effectively reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the very first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Png
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you wish to purchase expensive HDMI cables and knockoff earphones.