Fortunately is that as of today RadioShack. Radioshack Puerto Rico San German… has formally been acquired by Retail Ecommerce Ventures (REV), giving the troubled company a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having previously revamped the Internet presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups looking for something to do throughout the long winter nights, and an electronic kit or two shipped to their door might be simply the important things.
REV says they plan to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this composing the website currently states that sales have been briefly halted to enable stock restructuring, though it’s unclear 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 the majority of their physical locations in 2017 certainly seems like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they believed selling phones and TVs was somehow an excellent idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the community 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 store that stocks resistors, there’s a specific convenience in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another company that prepares to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand worldwide.
REV claims it’s effectively reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second and 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 basics. For a very long time, that implied actual radio components, but wound up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the business filed for personal bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and sells branded items within some areas of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would remain. Radioshack Puerto Rico San German
REV says it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient location to go when you want to buy expensive HDMI cable televisions and knockoff earphones.