The bright side is that since today RadioShack. Irfz44N Radioshack… has actually officially been bought 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 instant plans to return the renowned electronics merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Internet existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out 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 local shopping center. 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 looking for something to do during the long winter nights, and an electronic set or two shipped to their door might be just the important things.
REV says they plan to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this writing the site presently states that sales have actually been temporarily halted to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much product the business still has on hand after shuttering most of their physical areas in 2017 definitely sounds like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought offering phones and TVs was somehow a great 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. We all understand how that story ended. While it does not appear like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a certain convenience in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were acquired by another business that prepares to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website already 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 turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Irfz44N Radioshack
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 sufficient location to go when you want to buy pricey HDMI cable televisions and knockoff headphones.