The bright side is that since today RadioShack. Did Radioshack.Sell Cds… has actually officially been bought by Retail Ecommerce Ventures (REV), giving the distressed company a new lease on life. The drawback, at least for folks like us, is that there are no immediate strategies to return the renowned electronic devices seller to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having formerly revamped the Internet existence of other bankrupt companies 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 believes the future of retail isn’t to be discovered in your local shopping center. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter season nights, and an electronic package or 2 shipped to their door might be simply the thing.
REV states they plan to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this composing the website currently states that sales have actually been momentarily stopped to permit inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering the majority of their physical locations in 2017 definitely seems like something the new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they thought selling phones and Televisions was somehow an excellent concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. But all of us know 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 comfort in knowing that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another business that prepares to relaunch the once-great retailer as an online-focused brand.
The shop’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 also, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand worldwide.
REV declares it’s effectively reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech fundamentals. For a very long time, that suggested actual radio elements, however ended up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping showed up, and the company applied for bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “licensed” stores and offers branded items within some areas of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stay. Did Radioshack.Sell Cds
REV states it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient location to go when you desire to buy overpriced HDMI cable televisions and knockoff headphones.