The bright side is that as of today RadioShack. Radioshack Reedsburg Wi… has formally been bought by Retail Ecommerce Ventures (REV), providing the troubled business a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out preclude the possibility of brand-new physical RadioShack locations, 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 response 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 during the long winter nights, and an electronic package or 2 delivered to their door might be just the important things.
REV states they prepare to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this composing the site currently says that sales have actually been briefly stopped 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 most of their physical locations in 2017 certainly sounds like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they thought selling phones and Televisions was somehow an excellent concept. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. We all understand how that story ended. While it doesn’t appear like this news will get us any closer to having an area shop that stocks resistors, there’s a particular comfort in understanding that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were given another shock 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 start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand worldwide.
REV claims it’s effectively reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody seeking to grab tech basics. For a very long time, that suggested actual radio parts, but wound up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping got here, and the company applied for insolvency twice in the past five years. RadioShack still accredits its name to third-party “licensed” stores and sells top quality products within some places of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would remain. Radioshack Reedsburg Wi
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you desire to buy overpriced HDMI cable televisions and knockoff headphones.