The bright side is that as of today RadioShack. What Time Radioshack Open On Sundays… has formally been acquired by Retail Ecommerce Ventures (REV), providing the struggling business a new lease on life. The drawback, at least for folks like us, is that there are no immediate strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually formerly revamped the Web presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t 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 US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups looking for something to do during the long winter season nights, and an electronic package or more delivered 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 composing the site currently states that sales have been temporarily stopped to enable inventory 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 places in 2017 definitely seems like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another business that plans to relaunch the once-great merchant as an online-focused brand.
The store’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 too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand name worldwide.
REV declares it’s effectively turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech basics. For a long time, that implied actual radio components, but ended up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping arrived, and the business filed for personal bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and offers top quality products within some locations of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” products at Kohl’s even though that merchant shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stay. What Time Radioshack Open On Sundays
REV says it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough place to go when you desire to buy pricey HDMI cables and knockoff earphones.