The good news is that as of today RadioShack. How Many Radioshacks… has officially been purchased by Retail Ecommerce Ventures (REV), providing the troubled business a new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having previously revamped the Web existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks 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 difficult to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter season nights, and an electronic set or two shipped to their door might be just the important things.
REV states they plan to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this writing the website presently states that sales have been momentarily stopped to allow for stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the company still has on hand after shuttering most of their physical places in 2017 definitely sounds like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they believed offering televisions and phones was somehow a good concept. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. However all of us understand how that story ended. While it doesn’t appear like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a specific convenience in knowing that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were acquired by another business that plans to relaunch the once-great merchant as an online-focused brand.
The shop’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 also, consisting of 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 “positive” it can further raise awareness of the brand name globally.
REV declares it’s successfully reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech fundamentals. For a very long time, that suggested real radio components, but wound up consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping got here, and the company applied for insolvency twice in the past five years. RadioShack still accredits its name to third-party “licensed” stores and sells top quality products within some areas of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stick around. How Many Radioshacks
REV says it will “soon relaunch” RadioShack’s site. 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 buy pricey HDMI cable televisions and knockoff earphones.