The good news is that since today RadioShack. Is Radioshack Going Out Of Business… has formally been purchased by Retail Ecommerce Ventures (REV), offering the struggling business a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually previously revamped the Web existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of brand-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 adults looking for something to do during the long winter season nights, and an electronic package or 2 delivered to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this composing the site currently states that sales have been briefly halted to permit stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering the majority of their physical locations 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 era of RadioShack, back before they believed offering phones and Televisions was in some way a great idea. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. But all of us know how that story ended. While it doesn’t look like this news will get us any closer to having an area shop that stocks resistors, there’s a specific convenience in knowing that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another company that prepares to relaunch the once-great seller 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 brands from other faded retail giants also, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand name internationally.
REV claims it’s successfully turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Is Radioshack Going Out Of Business
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 adequate location to go when you want to purchase overpriced HDMI cable televisions and knockoff earphones.