Fortunately is that since today RadioShack. Radioshack Pocatello Hours… has actually formally been purchased by Retail Ecommerce Ventures (REV), giving the distressed company a brand-new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually previously revamped the Internet presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults searching for something to do during the long winter season nights, and an electronic set or 2 delivered to their door might be simply the important things.
REV says they plan to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this composing the site presently states that sales have been temporarily halted to enable inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much merchandise the business still has on hand after shuttering the majority of their physical places in 2017 definitely seems like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The shop’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 Item, 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 effectively reversed other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in 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 wanting to grab tech basics. For a long period of time, that indicated real radio parts, however ended up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the business filed for insolvency two times in the past five years. RadioShack still accredits its name to third-party “authorized” shops and sells branded products within some areas of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stay. Radioshack Pocatello Hours
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough location to go when you desire to purchase costly HDMI cable televisions and knockoff earphones.