The bright side is that since today RadioShack. Ethernet Crossover Radioshack… has actually officially been purchased by Retail Ecommerce Ventures (REV), offering the troubled company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having formerly revamped the Web presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional shopping center. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults trying to find something to do throughout the long winter nights, and an electronic package or 2 shipped to their door might be just the important things.
REV states they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this writing the website presently states that sales have actually been momentarily stopped to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering most of their physical areas in 2017 certainly sounds like something the new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were bought by another company that plans to relaunch the once-great seller as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand internationally.
REV declares it’s successfully 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 first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. For a very long time, that meant actual radio components, 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 insolvency two times in the past 5 years. RadioShack still certifies its name to third-party “licensed” stores and sells top quality products within some areas of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” items at Kohl’s although that seller shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stick around. Ethernet Crossover Radioshack
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough place to go when you want to purchase overpriced HDMI cable televisions and knockoff earphones.