The bright side is that since today RadioShack. Radioshack / Realistic Pro-2066… has actually officially been purchased by Retail Ecommerce Ventures (REV), giving the distressed company a brand-new lease on life. The drawback, 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 indicates, REV specializes in online retail, having actually formerly revamped the Internet existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults trying to find something to do during the long winter season nights, and an electronic set or 2 delivered to their door might be just the thing.
REV states they prepare to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the site presently says that sales have been briefly halted to allow for inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were purchased by another company that plans to relaunch the once-great seller as an online-focused brand.
The shop’s remains were purchased 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 Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand globally.
REV declares it’s effectively turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the very first and second 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 consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping arrived, and the company declared bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “licensed” stores and sells branded items within some locations of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would remain. Radioshack / Realistic Pro-2066
REV says it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you want to purchase overpriced HDMI cables and knockoff headphones.