The good news is that as of today RadioShack. How Many Stores Did Radioshack Close… has actually officially been bought by Retail Ecommerce Ventures (REV), giving the distressed business a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having previously revamped the Internet presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults searching for something to do during the long winter season nights, and an electronic set or 2 delivered to their door might be just the important things.
REV states they plan to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the website presently says that sales have been momentarily halted to permit stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering the majority of their physical places in 2017 definitely seems like something the new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they believed offering televisions and phones was somehow a great idea. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. But we all understand how that story ended. While it doesn’t look like this news will get us any closer to having a community shop that stocks resistors, there’s a particular comfort in knowing that RadioShack books and sets 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 prepares to relaunch the once-great seller as an online-focused brand.
The shop’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 as well, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand name internationally.
REV declares it’s effectively reversed other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the first and second 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 long time, that suggested real radio components, but wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly 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” stores and sells top quality products within some areas of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stick around. How Many Stores Did Radioshack Close
REV says it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough place to go when you want to purchase expensive HDMI cables and knockoff earphones.