Fortunately is that since today RadioShack. How To Use Radioshack 28-280 Electronics Learning Lab… has formally been acquired by Retail Ecommerce Ventures (REV), providing the distressed business a brand-new lease on life. The disadvantage, 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 implies, REV focuses on online retail, having previously revamped the Internet presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic kit or 2 delivered to their door might be simply the thing.
REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this writing the site presently says that sales have actually been temporarily stopped to permit inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering most of their physical locations in 2017 definitely sounds like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another business 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 startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand worldwide.
REV claims it’s successfully turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in 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 wanting to get tech essentials. For a long period of time, that suggested real radio components, however ended up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping got here, and the company filed for personal bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “licensed” shops and sells branded items within some places of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stick around. How To Use Radioshack 28-280 Electronics Learning Lab
REV states 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 location to go when you wish to purchase expensive HDMI cable televisions and knockoff earphones.