The bright side is that as of today RadioShack. Radioshack Stores… has actually officially been purchased by Retail Ecommerce Ventures (REV), offering the distressed company a brand-new lease on life. The disadvantage, 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 indicates, REV concentrates on online retail, having previously revamped the Internet presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional shopping center. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter nights, and an electronic kit or two delivered to their door might be just the important things.
REV says they plan to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this composing the site presently says that sales have actually been momentarily stopped to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering most of their physical areas in 2017 definitely sounds like something the new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they believed selling phones and Televisions was somehow a good concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. We all know how that story ended. While it does not appear like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a particular convenience in understanding that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another business that plans to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand name internationally.
REV declares it’s effectively turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits 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 anybody looking to grab tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Stores
REV says it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate place to go when you desire to buy costly HDMI cables and knockoff headphones.