The good news is that since today RadioShack. Radioshack Portable Weather Radio… has officially been acquired by Retail Ecommerce Ventures (REV), giving the struggling 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 bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. As the United States mulls further lockdowns in reaction 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 throughout the long winter nights, and an electronic set or two shipped to their door might be just the important things.
REV states they plan to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this writing the website presently states that sales have been temporarily stopped to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering the majority of their physical areas in 2017 definitely sounds like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed selling tvs and phones was in some way a good concept. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their shops. However all of us understand how that story ended. While it does not look like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a specific convenience in knowing 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 acquired by another company that prepares to relaunch the once-great retailer as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, 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 globally.
REV declares it’s successfully turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the very first and second quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Portable Weather Radio
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to buy overpriced HDMI cables and knockoff earphones.