Fortunately is that since today RadioShack. Will All Radioshack Stores Close… has actually formally been acquired by Retail Ecommerce Ventures (REV), offering the distressed company a new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having actually previously revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic kit or two delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021.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 currently says that sales have been momentarily halted to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the business still has on hand after shuttering the majority of their physical areas in 2017 definitely seems like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another business that plans to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand name internationally.
REV claims it’s successfully turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. For a long time, that suggested actual radio components, but wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping showed up, and the business filed for personal bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “licensed” stores and sells top quality items within some areas of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stay. Will All Radioshack Stores Close
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to buy pricey HDMI cables and knockoff earphones.