The bright side is that since today RadioShack. Does Radioshack Fix Computers?… has officially been purchased by Retail Ecommerce Ventures (REV), giving the troubled business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no instant strategies to return the iconic electronics merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having previously revamped the Internet presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your local shopping center. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups trying to find something to do throughout the long winter nights, and an electronic kit or more shipped to their door might be simply the thing.
REV states they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this composing the website presently says that sales have been briefly halted to enable inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering the majority of their physical areas in 2017 certainly seems like something the new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they thought offering televisions and phones was somehow a good concept. To their credit, they did try 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 look like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a certain comfort in knowing that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another company that prepares to relaunch the once-great retailer as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up 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 site already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand name internationally.
REV declares it’s successfully turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 anybody aiming to grab tech fundamentals. For a very long time, that meant real radio elements, but wound up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping showed up, and the business declared insolvency two times in the past five years. RadioShack still accredits its name to third-party “licensed” shops and sells branded items within some places of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stick around. Does Radioshack Fix Computers?
REV states it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar enough location to go when you wish to purchase pricey HDMI cables and knockoff earphones.