Fortunately is that as of today RadioShack. 20-422 Radioshack Scanner… has formally been bought by Retail Ecommerce Ventures (REV), giving the troubled company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually formerly revamped the Web presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults looking for something to do during the long winter nights, and an electronic package or 2 shipped to their door might be just the thing.
REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this composing the website presently says that sales have been briefly halted 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 product the business still has on hand after shuttering the majority of their physical locations in 2017 definitely sounds like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another company that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand globally.
REV claims it’s effectively turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits 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 seeking to get tech basics. For a very long time, that indicated actual radio elements, but wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping got here, and the business applied for insolvency two times in the past 5 years. RadioShack still certifies its name to third-party “licensed” stores and sells top quality products within some areas of HobbyTown, a crafts merchant– 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 stay. 20-422 Radioshack Scanner
REV says it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you want to purchase pricey HDMI cable televisions and knockoff headphones.