The good news is that as of today RadioShack. Radioshack Powerhorn 32-2038a Not Working… has formally been bought by Retail Ecommerce Ventures (REV), providing the distressed company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually previously revamped the Web presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. 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 grownups looking for something to do throughout the long winter nights, and an electronic package or two shipped to their door might be just the important things.
REV says they prepare to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the site currently states that sales have actually been briefly halted to permit inventory 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 most of their physical places in 2017 definitely seems like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were bought by another company that prepares to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand name worldwide.
REV declares it’s successfully turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech essentials. For a long period of time, that indicated real radio elements, but wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping arrived, and the company declared insolvency two times in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and sells top quality products within some locations of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that retailer shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would remain. Radioshack Powerhorn 32-2038a Not Working
REV says it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you desire to buy expensive HDMI cables and knockoff headphones.