The bright side is that as of today RadioShack. 74Ls04 Radioshack… has actually formally been bought by Retail Ecommerce Ventures (REV), providing the troubled business a new lease on life. The downside, at least for folks like us, is that there are no immediate plans to return the renowned electronics seller to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having previously revamped the Web existence of other bankrupt companies 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 hard to disagree. There will be countless bored kids and grownups searching for something to do throughout the long winter nights, and an electronic set or 2 shipped to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this composing the site presently states that sales have actually been momentarily stopped to permit stock restructuring, though it’s uncertain if this is straight 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 areas in 2017 certainly seems like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they thought selling phones and Televisions was somehow a good idea. 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. However we all know how that story ended. While it does not look like this news will get us any closer to having a community shop that stocks resistors, there’s a certain convenience in understanding that RadioShack packages and books will still be around for the next generation.
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 retailer as an online-focused brand name.
The shop’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 also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand name internationally.
REV declares it’s effectively reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second and first quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. 74Ls04 Radioshack
REV states it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar adequate location to go when you wish to buy costly HDMI cable televisions and knockoff earphones.