The bright side is that as of today RadioShack. Where To Go Now That Radioshack Is Gone… has formally been acquired by Retail Ecommerce Ventures (REV), providing the struggling company a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no immediate plans to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually previously revamped the Internet existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press 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 found in your local strip mall. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups searching for something to do throughout the long winter season nights, and an electronic kit or more delivered to their door might be simply the important things.
REV states they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this composing the site currently says that sales have been momentarily stopped to permit 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 business still has on hand after shuttering most of their physical locations in 2017 certainly sounds 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 before they believed offering tvs and phones was in some way an excellent concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. But we all know how that story ended. While it doesn’t appear like this news will get us any closer to having a community shop 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 provided another shock of life today when they were acquired by another company that plans to relaunch the once-great seller as an online-focused brand.
The store’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 Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand name internationally.
REV claims it’s effectively reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the second 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 fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Where To Go Now That Radioshack Is Gone
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 sufficient location to go when you desire to buy expensive HDMI cables and knockoff headphones.