The good news is that as of today RadioShack. Did Radioshack Close Down… has actually formally been purchased by Retail Ecommerce Ventures (REV), providing the troubled company a brand-new lease on life. The downside, at least for folks like us, is that there are no immediate plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually formerly revamped the Internet existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your local strip mall. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter nights, and an electronic set or 2 delivered to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this writing the site presently states that sales have actually been momentarily halted to enable stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering the majority of their physical areas in 2017 certainly 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 thought selling phones and Televisions was somehow a great concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. We all understand how that story ended. While it doesn’t appear like this news will get us any closer to having an area store that stocks resistors, there’s a certain convenience in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were acquired by another business that plans to relaunch the once-great seller as an online-focused brand.
The shop’s remains were acquired 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 Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand internationally.
REV claims it’s effectively reversed other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone seeking to grab tech fundamentals. For a very long time, that implied actual radio components, but wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping got here, and the company declared insolvency twice in the past five years. RadioShack still certifies its name to third-party “licensed” shops and sells branded items within some locations of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stay. Did Radioshack Close Down
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough location to go when you wish to purchase pricey HDMI cable televisions and knockoff earphones.