Fortunately is that since today RadioShack. Radioshack Tornamesa… has officially been purchased by Retail Ecommerce Ventures (REV), providing the troubled business a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronics merchant to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Internet existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough 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 set or two shipped to their door might be simply the thing.
REV says they plan to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this writing the website currently says that sales have been briefly stopped to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering most of their physical areas in 2017 certainly seems like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they thought selling phones and TVs was in some way a good idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. However we all understand how that story ended. While it does not look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a specific comfort in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were bought by another company that plans to relaunch the once-great retailer as an online-focused brand.
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, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand name worldwide.
REV claims it’s effectively reversed other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the first and second quarter of 2020.
RadioShack was founded in 1921 and became 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, but wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping showed up, and the business declared personal bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “authorized” shops and offers top quality items within some places of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that seller shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stay. Radioshack Tornamesa
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you desire to buy pricey HDMI cable televisions and knockoff earphones.