The bright side is that since today RadioShack. Is Radioshack Open On New Year& 39… has officially been acquired by Retail Ecommerce Ventures (REV), giving the troubled business a brand-new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually formerly revamped the Internet presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your local strip mall. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups searching for something to do throughout the long winter season nights, and an electronic kit or more delivered to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021.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 website currently says that sales have been momentarily stopped to permit stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering most of their physical locations in 2017 certainly sounds like something the new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought offering phones and TVs was in some way a good concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. We all know how that story ended. While it does not appear like this news will get us any closer to having a community shop 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 jolt of life today when they were bought by another company that prepares to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand globally.
REV claims it’s successfully reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody wanting to grab tech fundamentals. For a long period of time, that implied actual radio components, however wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the business declared personal bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “authorized” stores and offers branded products within some areas of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would remain. Is Radioshack Open On New Year& 39
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to buy pricey HDMI cables and knockoff earphones.