Fortunately is that since today RadioShack. Radioshack Remains… has actually formally been purchased by Retail Ecommerce Ventures (REV), providing the troubled business a brand-new lease on life. The disadvantage, at least 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 indicates, REV focuses on online retail, having actually formerly revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your local shopping center. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults looking for something to do throughout the long winter season nights, and an electronic set or two delivered to their door might be just the thing.
REV says they prepare to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the site presently states that sales have been momentarily 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 most of their physical places in 2017 certainly seems like something the new owners would wish 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 an excellent idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. We all understand how that story ended. While it doesn’t appear like this news will get us any closer to having a community shop that stocks resistors, there’s a specific comfort in knowing that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were bought by another company that plans to relaunch the once-great seller as an online-focused brand.
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 also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand name globally.
REV claims it’s effectively turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone aiming to get tech basics. For a very long time, that meant actual radio parts, however ended up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping arrived, and the company filed for bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and sells branded products within some areas of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that seller shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stay. Radioshack Remains
REV states it will “quickly 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 earphones.