Fortunately is that as of today RadioShack. What Is A Legacy Radioshack Gift Card… has officially been acquired by Retail Ecommerce Ventures (REV), giving the distressed business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the iconic electronics retailer to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having formerly revamped the Internet existence 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 areas, it’s clear that REV believes the future of retail isn’t to be found in your local 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 millions of bored kids and grownups searching for something to do during the long winter season nights, and an electronic set or two shipped to their door might be just the important things.
REV says they prepare to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this writing the website currently states that sales have actually been briefly stopped to permit inventory restructuring, though it’s unclear if this is directly 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 places in 2017 definitely sounds like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they thought offering televisions and phones 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 does not appear like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a certain convenience in knowing that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another business that prepares to relaunch the once-great merchant as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand name globally.
REV declares it’s successfully reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone seeking to get tech fundamentals. For a very long time, that indicated real radio parts, but wound up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping showed up, and the company applied for personal bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and sells top quality products within some places of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s even though that seller shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stay. What Is A Legacy Radioshack Gift Card
REV says it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you wish to purchase pricey HDMI cable televisions and knockoff headphones.