The bright side is that as of today RadioShack. Radioshack Pool Door Alarm… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the distressed business a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate plans to return the iconic electronics retailer to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having previously revamped the Internet presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found 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 millions of bored kids and grownups trying to find something to do during the long winter nights, and an electronic set or two delivered to their door might be just the thing.
REV says they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this composing the website currently says that sales have actually been momentarily stopped to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of 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.
We all understand how that story ended.
RadioShack’s shambling remains were provided 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.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand globally.
REV declares it’s effectively turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone aiming to grab tech fundamentals. For a very long time, that suggested actual radio parts, however ended up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping showed up, and the company applied for personal bankruptcy twice in the past five years. RadioShack still certifies its name to third-party “licensed” shops and sells top quality items within some locations of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would stay. Radioshack Pool Door Alarm
REV states it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate place to go when you want to purchase expensive HDMI cable televisions and knockoff headphones.