The bright side is that since today RadioShack. Bonnie Clyde Phone Radioshack… has officially been purchased by Retail Ecommerce Ventures (REV), giving the troubled business a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having formerly revamped the Web existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude 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 shopping center. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard 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 more shipped to their door might be simply the important things.
REV says they plan 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 currently states that sales have actually been momentarily halted to permit inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering most of their physical places in 2017 certainly sounds like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were bought by another company that plans to relaunch the once-great seller as an online-focused brand.
The shop’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 as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand name worldwide.
REV claims it’s successfully reversed other companies 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 anybody seeking to get tech fundamentals. For a long time, that meant actual radio elements, however ended up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping arrived, and the business applied for bankruptcy two times in the past 5 years. RadioShack still certifies its name to third-party “authorized” shops and offers branded products within some locations of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” products at Kohl’s despite the fact that that retailer shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stay. Bonnie Clyde Phone Radioshack
REV states it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough place to go when you want to purchase costly HDMI cables and knockoff headphones.