Why Is Radioshack Going Out Of Business – Everything you need

The bright side is that since today RadioShack. Why Is Radioshack Going Out Of Business… has actually formally been acquired by Retail Ecommerce Ventures (REV), providing the troubled company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Web existence of other bankrupt services such as Pier 1 Imports and Dressbarn.

While journalism release doesn’t outright preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your local shopping center. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter season nights, and an electronic kit or 2 shipped to their door might be just the important things.

REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this composing the site presently says that sales have been temporarily stopped to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise 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 want to do.

Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they believed offering phones and Televisions was in some way a good 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 stores. 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 convenience in understanding that RadioShack books and packages will still be around for the next generation.

RadioShack’s shambling remains were provided another shock of life today when they were purchased by another company that plans to relaunch the once-great merchant as an online-focused brand name.

The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand name internationally.

REV declares it’s successfully turned around other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the first and second quarter of 2020.

RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to get tech fundamentals. For a long period of time, that indicated real radio components, but ended up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping arrived, and the business filed for bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “licensed” shops and sells branded items within some locations of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stay. Why Is Radioshack Going Out Of Business

REV states it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you wish to buy overpriced HDMI cable televisions and knockoff earphones.