The good news is that as of today RadioShack. Radioshack Ptc… has actually officially been acquired by Retail Ecommerce Ventures (REV), giving the distressed company a new lease on life. The disadvantage, 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 indicates, REV specializes in online retail, having actually formerly revamped the Web presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t 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 strip mall. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups searching for something to do during the long winter season nights, and an electronic kit or two 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 business’s 100th anniversary in 2021. Since this writing the website currently says that sales have been briefly halted to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much merchandise the business still has on hand after shuttering the majority of their physical locations in 2017 certainly sounds like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they believed offering televisions and phones was somehow a great concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their shops. We all understand how that story ended. While it does not look like this news will get us any closer to having an area shop that stocks resistors, there’s a certain convenience in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another company that prepares to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name worldwide.
REV claims it’s successfully turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody aiming to grab tech essentials. For a long period of time, that suggested actual radio components, however wound up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping showed up, and the company applied for bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “authorized” stores and sells branded items within some places of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” products at Kohl’s although that seller shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Ptc
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to buy costly HDMI cable televisions and knockoff earphones.