Fortunately is that since today RadioShack. Cache Https Www.Radioshack.Com… has actually formally been purchased by Retail Ecommerce Ventures (REV), giving the struggling company a brand-new lease on life. The disadvantage, a minimum of 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 suggests, REV specializes in online retail, having previously revamped the Internet existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults searching for something to do during the long winter nights, and an electronic package or 2 shipped to their door might be simply the important things.
REV says they prepare to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the site currently states that sales have been temporarily stopped to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much merchandise the business still has on hand after shuttering most of their physical locations in 2017 definitely sounds like something the 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 tvs and phones was somehow a good idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the community what they ‘d wish 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 neighborhood shop that stocks resistors, there’s a specific convenience in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were bought by another business that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says 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 worldwide.
REV claims it’s effectively turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits 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 looking to grab tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Cache Https Www.Radioshack.Com
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to purchase overpriced HDMI cables and knockoff headphones.