The bright side is that as of today RadioShack. Radioshack: Tempe-e University… has actually officially been acquired by Retail Ecommerce Ventures (REV), giving the struggling business a new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having previously revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of brand-new physical RadioShack areas, 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 reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic package or more delivered to their door might be simply the important things.
REV says they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this composing the website presently states that sales have actually been momentarily halted to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering most of their physical areas 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 before they believed selling phones and TVs was somehow a good concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. We all know how that story ended. While it doesn’t appear like this news will get us any closer to having an area store that stocks resistors, there’s a specific comfort in knowing that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were bought by another business that plans to relaunch the once-great merchant as an online-focused brand name.
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, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand name internationally.
REV claims it’s effectively turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the second and first quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack: Tempe-e University
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough place to go when you want to buy overpriced HDMI cable televisions and knockoff headphones.