The good news is that since today RadioShack. How Is Radioshack Still In Business… has formally been purchased by Retail Ecommerce Ventures (REV), giving the troubled company a new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the renowned electronics merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually previously revamped the Web existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups looking for something to do during the long winter nights, and an electronic package or two shipped to their door might be simply the thing.
REV says they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the website presently says that sales have actually been momentarily stopped to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of how much merchandise the business still has on hand after shuttering most of their physical places in 2017 certainly seems like something the new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they thought selling televisions and phones was in some way an excellent 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 stores. However all of us 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 specific convenience in understanding that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were acquired by another company that prepares to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand internationally.
REV claims it’s successfully reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to grab tech basics. For a very long time, that meant real radio elements, however ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping arrived, and the company declared personal bankruptcy two times in the past 5 years. RadioShack still certifies its name to third-party “licensed” stores and offers branded items within some places of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stick around. How Is Radioshack Still In 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 sufficient location to go when you want to purchase overpriced HDMI cable televisions and knockoff headphones.