The bright side is that as of today RadioShack. Radioshack Remote Controller System… has officially been purchased by Retail Ecommerce Ventures (REV), providing the struggling company a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no instant strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Web existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic set or more shipped to their door might be simply the thing.
REV states they prepare to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this writing the website presently states that sales have been briefly stopped to permit stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering the majority of their physical locations in 2017 definitely sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another business that prepares to relaunch the once-great seller as an online-focused brand.
The shop’s remains were purchased 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 site currently has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand name internationally.
REV declares it’s successfully reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone seeking to get tech essentials. For a long period of time, that indicated actual radio components, however ended up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping got here, and the company filed for bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and offers branded items within some locations of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s although that seller shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Remote Controller System
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough place to go when you want to buy overpriced HDMI cable televisions and knockoff headphones.