Fortunately is that as of today RadioShack. Does Radioshack Open On Sunday… has officially been purchased by Retail Ecommerce Ventures (REV), providing the troubled company a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually previously revamped the Internet presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults trying to find something to do during the long winter season nights, and an electronic package or more shipped to their door might be simply the important things.
REV states 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 briefly halted to permit inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much merchandise the business still has on hand after shuttering most 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 Age of RadioShack, back before they thought offering televisions and phones was somehow an excellent idea. 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 does not appear like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a particular 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 plans to relaunch the once-great seller as an online-focused brand.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, 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 name internationally.
REV declares it’s effectively turned around other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 seeking to grab tech basics. For a very long time, that indicated real radio parts, but wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping arrived, and the business declared insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and sells branded items within some places of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would remain. Does Radioshack Open On Sunday
REV states it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you wish to buy costly HDMI cable televisions and knockoff headphones.