The bright side is that since today RadioShack. Radioshack Pro-84 Manual… has formally been bought by Retail Ecommerce Ventures (REV), giving the distressed company a brand-new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually formerly revamped the Web presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional shopping center. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard 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 2 shipped to their door might be just the thing.
REV says they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this writing the site presently says that sales have actually been temporarily stopped to permit stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the company still has on hand after shuttering most of their physical locations in 2017 certainly seems like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another company that plans to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up 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 site already has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand name worldwide.
REV claims it’s effectively reversed other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone seeking to get tech essentials. For a long period of time, that implied real radio parts, but ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping got here, and the business applied for personal bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “licensed” shops and sells top quality products within some locations of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would stay. Radioshack Pro-84 Manual
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you want to buy expensive HDMI cable televisions and knockoff earphones.