The good news is that as of today RadioShack. Radioshack Queens Nyc… has actually formally been bought by Retail Ecommerce Ventures (REV), providing the distressed company a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Web presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your local 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 adults searching for something to do during the long winter season nights, and an electronic package or more delivered to their door might be simply the important things.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this writing the site currently states that sales have actually been momentarily halted to allow for inventory 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 areas in 2017 certainly sounds like something the new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought selling phones and Televisions was somehow a good idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their shops. We all know how that story ended. While it does not look like this news will get us any closer to having a community store that stocks resistors, there’s a particular convenience in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were bought by another company that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand internationally.
REV claims it’s successfully turned around other companies it’s released 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 wanting to get tech fundamentals. For a long time, that suggested actual radio parts, however ended up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping arrived, and the company declared personal bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “authorized” stores and sells top quality products within some places of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Queens Nyc
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 purchase costly HDMI cables and knockoff headphones.