Fortunately is that as of today RadioShack. Radioshack Pro-92 Battery Replacement… has officially been acquired by Retail Ecommerce Ventures (REV), providing the struggling business a new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the iconic electronics merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually formerly revamped the Web presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude 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 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 countless bored kids and adults trying to find something to do throughout the long winter nights, and an electronic package or 2 delivered to their door might be just the thing.
REV says they prepare to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this composing the website presently states that sales have been briefly stopped to allow for 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 the majority of their physical areas in 2017 certainly sounds like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another business that prepares to relaunch the once-great retailer 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 also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand internationally.
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 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech fundamentals. For a long period of time, that indicated real radio parts, however wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping got here, and the business declared bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and sells branded items within some areas of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Pro-92 Battery Replacement
REV states it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you want to buy costly HDMI cables and knockoff earphones.