The bright side is that since today RadioShack. What Time Does Radioshack Open Today… has formally been purchased by Retail Ecommerce Ventures (REV), giving the troubled company a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronics retailer to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having previously revamped the Internet existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism 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 discovered in your local strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic kit or 2 shipped to their door might be simply the important things.
REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this writing the website presently says that sales have actually been temporarily stopped to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering most of their physical places in 2017 definitely seems like something the brand-new owners would want 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 somehow a great concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. We all know how that story ended. While it does not look like this news will get us any closer to having a community store that stocks resistors, there’s a particular convenience in knowing that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were acquired by another business that plans to relaunch the once-great seller as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name internationally.
REV claims it’s successfully turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the very first and second quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech basics. REV didn’t state whether those RadioShack licenses would stick around. What Time Does Radioshack Open Today
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough location to go when you desire to buy pricey HDMI cables and knockoff headphones.