The bright side is that since today RadioShack. Radioshack Reynosa Tamaulipas… has actually officially been purchased by Retail Ecommerce Ventures (REV), giving the troubled business a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having formerly revamped the Web existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic package or two delivered to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this composing the site presently states that sales have been temporarily halted to permit inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering most of their physical locations in 2017 definitely sounds like something the new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they thought selling phones and Televisions was in some way a great concept. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish 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 store that stocks resistors, there’s a particular convenience in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were acquired by another business that plans to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand globally.
REV declares it’s effectively turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the very first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Reynosa Tamaulipas
REV states it will “soon relaunch” RadioShack’s website. 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 buy overpriced HDMI cables and knockoff earphones.