The bright side is that since today RadioShack. Radioshack Pro-2017… has formally been purchased by Retail Ecommerce Ventures (REV), giving the struggling company a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the iconic electronic devices merchant 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 organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your local shopping center. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter nights, and an electronic kit or more delivered to their door might be simply the important things.
REV states they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the website presently states that sales have actually been temporarily halted to allow for inventory restructuring, though it’s unclear 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 areas in 2017 definitely sounds like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they thought offering phones and TVs was somehow a good concept. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. But 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 certain convenience in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were given 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 name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand internationally.
REV claims it’s successfully turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to get tech essentials. For a very long time, that suggested real radio elements, however ended up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping got here, and the company filed for bankruptcy twice in the past five years. RadioShack still accredits its name to third-party “authorized” shops and sells top quality items within some places of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would remain. Radioshack Pro-2017
REV says it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient location to go when you wish to buy costly HDMI cables and knockoff earphones.