The good news is that since today RadioShack. Radioshack Rc Crocodile Hunter Steve Irwin Toyota Landcruiser… has officially been acquired by Retail Ecommerce Ventures (REV), offering the troubled company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually previously revamped the Web presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults searching for something to do throughout the long winter season nights, and an electronic set or two shipped to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this composing the site currently states 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 a precise count of just how much product the company still has on hand after shuttering the majority of their physical places in 2017 certainly seems like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were purchased by another business that plans to relaunch the once-great seller 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 too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand worldwide.
REV declares it’s successfully reversed other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to grab tech fundamentals. For a very long time, that suggested actual radio components, but ended up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping arrived, and the company filed for insolvency twice in the past five years. RadioShack still accredits its name to third-party “licensed” shops and sells top quality items within some places of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Rc Crocodile Hunter Steve Irwin Toyota Landcruiser
REV states it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient location to go when you wish to buy pricey HDMI cables and knockoff headphones.