Fortunately is that as of today RadioShack. Can Radioshack 197 Receive Phase 2… has actually formally been acquired by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually formerly revamped the Web presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. 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 trying to find something to do during the long winter nights, and an electronic package or more delivered to their door might be just the important things.
REV says they plan to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this composing the website presently says that sales have actually been temporarily halted to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering the majority of their physical areas in 2017 definitely sounds like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they believed offering phones and Televisions was in some way a great concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. We all know how that story ended. While it does not look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a specific convenience in knowing that RadioShack sets 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 merchant as an online-focused brand name.
The store’s remains were acquired 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 already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand worldwide.
REV claims it’s successfully turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech basics. REV didn’t say whether those RadioShack licenses would stick around. Can Radioshack 197 Receive Phase 2
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 adequate place to go when you want to purchase overpriced HDMI cables and knockoff headphones.