The bright side is that since today RadioShack. Radioshack Reed Relay… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the distressed business a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronics retailer to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually formerly revamped the Internet existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups searching for something to do throughout the long winter season nights, and an electronic set or more delivered to their door might be simply the important things.
REV says they plan to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this composing the website presently states that sales have actually been briefly stopped to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the business still has on hand after shuttering the majority of their physical locations in 2017 certainly sounds like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another company that prepares to relaunch the once-great merchant 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 as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand name globally.
REV claims it’s effectively reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody aiming to get tech essentials. For a long period of time, that indicated actual radio components, however wound up consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping arrived, and the business declared insolvency two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and sells top quality products within some areas of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would remain. Radioshack Reed Relay
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 adequate location to go when you want to purchase costly HDMI cables and knockoff earphones.