The good news is that since today RadioShack. Kelly Fordyce Radioshack… 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 instant strategies to return the renowned electronics seller to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having formerly revamped the Internet existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright preclude the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter season nights, and an electronic kit or 2 shipped to their door might be simply the important things.
REV says they plan to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this composing the site presently says that sales have been momentarily halted to allow for stock restructuring, though it’s unclear 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 most of their physical locations in 2017 definitely seems like something the new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were purchased by another company that plans to relaunch the once-great retailer as an online-focused brand.
The shop’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 too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand globally.
REV claims it’s successfully turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in 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 anybody wanting to get tech fundamentals. For a very long time, that indicated actual radio elements, but ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping arrived, and the company declared bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “licensed” stores and sells top quality products within some locations of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would remain. Kelly Fordyce Radioshack
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you want to purchase pricey HDMI cable televisions and knockoff earphones.