The good news is that as of today RadioShack. Radioshack Rebate Card Balance… has formally been bought by Retail Ecommerce Ventures (REV), providing the troubled business a brand-new lease on life. The downside, at least 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 implies, REV focuses on online retail, having actually formerly revamped the Web presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter nights, and an electronic set or two delivered to their door might be simply the thing.
REV says they prepare to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this composing the site presently says that sales have been temporarily halted to permit inventory restructuring, though it’s unclear if this is directly 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 seems like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought offering televisions and phones was somehow a great concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. We all know how that story ended. While it does not appear like this news will get us any closer to having a community store that stocks resistors, there’s a specific comfort in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were acquired by another company that plans to relaunch the once-great seller 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 also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand internationally.
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 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 get tech essentials. For a long time, that implied real radio elements, however ended up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping showed up, and the company applied for insolvency two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and offers top quality products within some locations of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Rebate Card Balance
REV says 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 purchase pricey HDMI cable televisions and knockoff headphones.