The bright side is that as of today RadioShack. When Did Radioshack Close?… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the troubled company a new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually formerly revamped the Internet presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter nights, and an electronic set or two delivered to their door might be simply the thing.
REV says they plan to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this composing the site currently states that sales have actually been momentarily stopped to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering most of their physical places in 2017 definitely seems like something the new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they believed offering phones and TVs was somehow a good idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. But we all understand how that story ended. While it does not appear like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a certain comfort in knowing that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were given 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.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand worldwide.
REV declares it’s effectively reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody aiming to get tech fundamentals. For a long period of time, that meant actual radio components, but ended up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping showed up, and the business filed for personal bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “licensed” shops and offers top quality items within some locations of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” products at Kohl’s even though that seller shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would remain. When Did Radioshack Close?
REV says it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient location to go when you want to buy expensive HDMI cable televisions and knockoff earphones.