The bright side is that since today RadioShack. Hulu Start Radioshack… has officially been bought by Retail Ecommerce Ventures (REV), giving the distressed company 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 formerly revamped the Web presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your local strip mall. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless 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 important things.
REV states they plan to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this writing the website presently says that sales have actually been briefly stopped to permit inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering the majority of their physical locations in 2017 certainly sounds like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they believed offering tvs and phones was in some way a good idea. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. But all of us understand how that story ended. While it doesn’t appear like this news will get us any closer to having a community store that stocks resistors, there’s a certain comfort in knowing 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 bought 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 start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand worldwide.
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 profits in between the very first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Hulu Start Radioshack
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you want to purchase costly HDMI cables and knockoff earphones.