The bright side is that since today RadioShack. Radioshack Restructuring Advisor… has actually formally been bought by Retail Ecommerce Ventures (REV), giving the distressed business a new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the renowned electronics seller to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually previously revamped the Web presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups searching for something to do during the long winter nights, and an electronic set or two delivered to their door might be just the important things.
REV says they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this writing the site currently says that sales have been temporarily halted to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering most of their physical areas in 2017 definitely seems like something the new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they thought selling tvs and phones was somehow an excellent idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. But we all know how that story ended. While it does not look like this news will get us any closer to having an area shop that stocks resistors, there’s a certain comfort in understanding that RadioShack packages and books 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 prepares to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand internationally.
REV claims it’s effectively turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and 2nd quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Restructuring Advisor
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 enough location to go when you wish to buy pricey HDMI cable televisions and knockoff earphones.