The bright side is that as of today RadioShack. Has Radioshack Gone Out Of Business… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the distressed 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 renowned electronic devices seller to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually formerly revamped the Web presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your local shopping center. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults looking for something to do during the long winter nights, and an electronic set or more shipped to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this writing the site currently states that sales have actually been briefly stopped to enable stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering the majority of their physical areas in 2017 definitely sounds like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they believed offering televisions and phones was in some way a great idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. However we all understand how that story ended. While it does not look like this news will get us any closer to having an area shop that stocks resistors, there’s a particular comfort in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand worldwide.
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 profits 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 grab tech basics. REV didn’t say whether those RadioShack licenses would stick around. Has Radioshack Gone Out Of Business
REV states it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you want to buy overpriced HDMI cables and knockoff headphones.