Fortunately is that as of today RadioShack. Can You Return To Radioshack… has actually officially been purchased by Retail Ecommerce Ventures (REV), providing the troubled company a new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics merchant to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually previously revamped the Web existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent 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 even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults trying to find something to do during the long winter season nights, and an electronic set or two shipped to their door might be simply the thing.
REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this writing the site currently says 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 how much merchandise the company still has on hand after shuttering most of their physical locations in 2017 certainly sounds like something the brand-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 plans to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup 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 potential,” and the company is “positive” it can even more raise awareness of the brand name worldwide.
REV declares it’s successfully reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to grab tech fundamentals. For a long period of time, that implied real radio components, but 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 showed up, and the company declared personal bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “licensed” stores and offers top quality products within some areas of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” products at Kohl’s although that seller shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would remain. Can You Return To Radioshack
REV states it will “quickly 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 want to buy pricey HDMI cable televisions and knockoff earphones.