The bright side is that as of today RadioShack. Radioshack Pro166… has actually formally been purchased by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The drawback, at least for folks like us, is that there are no immediate strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having formerly revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional shopping center. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter season nights, and an electronic package or more delivered to their door might be just the thing.
REV states they prepare to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this composing the website presently says that sales have actually been momentarily halted to permit stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering most of their physical places in 2017 definitely sounds like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they believed offering phones and Televisions was somehow a great concept. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. However all of us understand how that story ended. While it doesn’t appear like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a specific 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 business that plans to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of 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 further raise awareness of the brand globally.
REV declares it’s successfully reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody seeking to grab tech basics. For a long time, that meant actual radio components, however ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the company filed for personal bankruptcy two times in the past 5 years. RadioShack still licenses its name to third-party “licensed” stores and sells top quality products within some locations of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Pro166
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 enough location to go when you wish to buy expensive HDMI cable televisions and knockoff earphones.