The bright side is that as of today RadioShack. Radioshack Portable Tv Vcr Combo Car Plug… has formally been purchased by Retail Ecommerce Ventures (REV), providing the struggling company a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no instant plans to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having formerly revamped the Internet presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your regional strip mall. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter nights, and an electronic package or more shipped to their door might be just the important things.
REV states they prepare to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this writing the website currently states that sales have actually been temporarily halted to allow for stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering most of their physical locations in 2017 definitely seems like something the new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they thought selling tvs and phones was in some way a great idea. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d wish 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 a community store that stocks resistors, there’s a certain comfort in knowing that RadioShack books and sets 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 company that plans to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand worldwide.
REV claims it’s effectively turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody wanting to get tech fundamentals. For a very long time, that indicated real radio elements, but ended up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping got here, and the company declared personal bankruptcy two times in the past 5 years. RadioShack still certifies its name to third-party “authorized” shops and sells top quality items within some places of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Portable Tv Vcr Combo Car Plug
REV states it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough place to go when you desire to purchase expensive HDMI cable televisions and knockoff headphones.