The bright side is that since today RadioShack. Radioshack Pro-70 Scanning Reciever… has formally been bought by Retail Ecommerce Ventures (REV), giving the troubled company a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Internet presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups looking 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 just in time for the business’s 100th anniversary in 2021. As of this writing the website currently says that sales have been momentarily stopped to enable stock restructuring, though it’s unclear if this is straight 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 certainly seems like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were bought by another company that plans to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand worldwide.
REV declares it’s successfully reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 wanting to grab tech essentials. For a very long time, that meant real radio elements, but ended up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping arrived, and the company declared personal bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and sells top quality products within some places of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” products at Kohl’s even though that seller shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Pro-70 Scanning Reciever
REV states it will “soon relaunch” RadioShack’s site. 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 purchase expensive HDMI cables and knockoff earphones.