Fortunately is that as of today RadioShack. Radioshack Power Strip… has formally been purchased by Retail Ecommerce Ventures (REV), giving the distressed company a new lease on life. The disadvantage, at least for folks like us, is that there are no instant strategies to return the renowned electronics retailer to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually previously revamped the Internet existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out preclude 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 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 countless bored kids and adults searching for something to do during the long winter season nights, and an electronic kit or 2 delivered to their door might be simply the important things.
REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website currently says that sales have actually been temporarily stopped to enable 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 brand-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 acquired by another business that plans to relaunch the once-great seller 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 too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand worldwide.
REV declares it’s successfully turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in 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 anybody looking to grab tech fundamentals. For a long time, that meant real radio elements, however ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping arrived, and the company declared personal bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and sells branded items within some places of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Power Strip
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you want to buy expensive HDMI cables and knockoff headphones.