Fortunately is that as of today RadioShack. Is Radioshack Still In Existence… has actually officially been bought by Retail Ecommerce Ventures (REV), giving the distressed company a new lease on life. The drawback, at least for folks like us, is that there are no immediate strategies to return the renowned electronics merchant to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having actually previously revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out preclude the possibility of brand-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 United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups looking for something to do throughout the long winter season nights, and an electronic kit or 2 shipped to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this writing the site currently says that sales have been temporarily halted to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering most of their physical places in 2017 certainly sounds like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they believed selling televisions and phones was in some way a great concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the community 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 store that stocks resistors, there’s a specific comfort in understanding 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 plans 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 brands from other faded retail giants also, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand worldwide.
REV declares it’s effectively turned around other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the very 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 basics. For a very long time, that meant real radio elements, however ended up consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping arrived, and the business filed for insolvency two times in the past five years. RadioShack still certifies its name to third-party “authorized” stores and offers top quality products within some locations of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. Is Radioshack Still In Existence
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you want to purchase overpriced HDMI cables and knockoff earphones.