Fortunately is that as of today RadioShack. Radioshack Pro-495… has officially been bought by Retail Ecommerce Ventures (REV), providing the troubled business a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronics merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually previously revamped the Internet presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults looking for something to do throughout the long winter season nights, and an electronic package 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REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021.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 states that sales have been temporarily halted to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering most of their physical areas in 2017 definitely seems like something the new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they believed selling televisions and phones was in some way a great idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. We all know how that story ended. While it does not appear like this news will get us any closer to having an area store that stocks resistors, there’s a certain convenience in understanding that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were bought by another company that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand worldwide.
REV claims it’s effectively turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Pro-495
REV states it will “soon 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 desire to purchase expensive HDMI cable televisions and knockoff earphones.