The bright side is that since today RadioShack. When Was Radioshack Founded… has formally been bought by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having formerly revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter nights, and an electronic package or two delivered to their door might be simply the important things.
REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this composing the site presently says that sales have been briefly halted to permit stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering the majority 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 Age of RadioShack, back prior to they thought offering phones and Televisions was in some way a good idea. 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. However we all know how that story ended. While it doesn’t look like this news will get us any closer to having a community shop that stocks resistors, there’s a particular convenience in understanding that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were purchased 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 says RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand name globally.
REV declares it’s effectively turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income 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 get tech essentials. REV didn’t state whether those RadioShack licenses would stick around. When Was Radioshack Founded
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient location to go when you want to buy pricey HDMI cables and knockoff headphones.