Fortunately is that since today RadioShack. Does Radioshack Sell Record Player Needles… has actually officially been purchased by Retail Ecommerce Ventures (REV), giving the troubled business a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronics merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually previously revamped the Web presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your local strip mall. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults looking for something to do during the long winter season nights, and an electronic kit or more delivered to their door might be simply the thing.
REV states they plan to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this composing the site currently says that sales have actually been temporarily halted to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering the majority of their physical areas in 2017 certainly seems like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The store’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 also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand globally.
REV declares it’s effectively reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech basics. For a long time, that implied actual radio elements, however wound up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping arrived, and the company filed for insolvency two times in the past 5 years. RadioShack still certifies its name to third-party “licensed” shops and sells top quality items within some areas of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would remain. Does Radioshack Sell Record Player Needles
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 purchase pricey HDMI cables and knockoff earphones.