Fortunately is that since today RadioShack. Closest Radioshack Near My Location… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the distressed business a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having previously revamped the Web existence of other bankrupt 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 thinks the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls further lockdowns in reaction 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 throughout the long winter season nights, and an electronic set or more shipped to their door might be simply the important things.
REV states they plan to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this composing the site presently states that sales have been temporarily stopped to permit stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the company still has on hand after shuttering most of their physical places in 2017 certainly seems like something the brand-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 believed offering tvs and phones was in some way a good 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 shops. We all understand how that story ended. While it does not appear like this news will get us any closer to having an area store that stocks resistors, there’s a certain convenience in knowing that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were provided 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 name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Product, 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 worldwide.
REV claims it’s successfully reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone seeking to get tech fundamentals. For a long time, that indicated actual radio elements, but wound up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping arrived, and the business filed for insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and sells top quality items within some locations of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would stay. Closest Radioshack Near My Location
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient place to go when you want to buy overpriced HDMI cables and knockoff earphones.