The bright side is that since today RadioShack. Closest Radioshack From Current Location… has actually officially been purchased by Retail Ecommerce Ventures (REV), giving the struggling business a new lease on life. The downside, at least for folks like us, is that there are no immediate plans to return the renowned electronics merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having formerly revamped the Internet presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your regional strip mall. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups trying to find something to do during the long winter nights, and an electronic set or 2 delivered to their door might be just 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. Since this writing the website presently says that sales have been temporarily halted to allow for inventory restructuring, though it’s unclear 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 places in 2017 certainly sounds like something the new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought offering televisions and phones was somehow a great idea. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. However all of us understand how that story ended. While it does not look like this news will get us any closer to having a community store that stocks resistors, there’s a particular comfort in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another company that prepares to relaunch the once-great merchant 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, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand internationally.
REV declares it’s effectively turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the 2nd and very 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. For a very long time, that meant actual radio elements, however wound up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the company declared insolvency two times in the past five years. RadioShack still certifies its name to third-party “licensed” shops and sells top quality products within some areas of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would stick around. Closest Radioshack From Current Location
REV says it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you want to purchase pricey HDMI cable televisions and knockoff earphones.