Fortunately is that as of today RadioShack. Jim Gooch Radioshack… has actually formally been purchased by Retail Ecommerce Ventures (REV), offering the distressed business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having formerly revamped the Internet presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local shopping center. As the United States mulls further lockdowns in response 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 throughout the long winter nights, and an electronic kit or two delivered to their door might be simply the thing.
REV states they prepare to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this composing the site presently states that sales have been briefly stopped to allow for inventory restructuring, though it’s uncertain 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 areas in 2017 definitely sounds like something the brand-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 selling phones and TVs was somehow a great idea. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their shops. But all of us understand how that story ended. While it does not look like this news will get us any closer to having a community store that stocks resistors, there’s a particular convenience in understanding that RadioShack books and sets 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.
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 as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand name globally.
REV declares it’s effectively reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in 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 wanting to grab tech essentials. For a very long time, that indicated real radio components, however ended up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping showed up, and the business applied for personal bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and offers branded products within some places of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stay. Jim Gooch Radioshack
REV states it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough location to go when you want to purchase overpriced HDMI cable televisions and knockoff earphones.