The bright side is that as of today RadioShack. Radioshack Pro 67… has actually officially been bought by Retail Ecommerce Ventures (REV), offering the distressed business a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronic devices seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually formerly revamped the Internet presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the US 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 searching for something to do throughout the long winter season nights, and an electronic package or 2 shipped to their door might be simply the thing.
REV states they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this writing the site presently states that sales have been temporarily stopped to enable inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they believed offering televisions and phones was in some way a great concept. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. We all know how that story ended. While it doesn’t look like this news will get us any closer to having a community shop that stocks resistors, there’s a particular convenience in understanding that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another company that plans to relaunch the once-great seller as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand name internationally.
REV claims it’s effectively turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the 2nd and first quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Pro 67
REV says it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you want to purchase costly HDMI cable televisions and knockoff earphones.