The bright side is that since today RadioShack. Ampli Radioshack Mod√®Le 4001920… has officially been purchased by Retail Ecommerce Ventures (REV), giving the distressed business a new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the renowned electronics seller to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having actually previously revamped the Internet existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered 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 millions of bored kids and grownups looking for something to do throughout the long winter nights, and an electronic set or two shipped to their door might be just the important things.
REV says they prepare to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this composing the site presently states that sales have been briefly halted to permit inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were acquired by another company that prepares to relaunch the once-great seller as an online-focused brand name.
The shop’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 Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand name worldwide.
REV declares it’s successfully turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody aiming to get tech fundamentals. For a long period of time, that meant real radio parts, however wound up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping showed up, and the business declared bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and offers branded items within some places of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would remain. Ampli Radioshack Mod√®Le 4001920
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 enough place to go when you wish to buy pricey HDMI cable televisions and knockoff headphones.