Fortunately is that since today RadioShack. Makeblock Radioshack… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the iconic electronic devices seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having formerly revamped the Web presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. 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 adults searching for something to do throughout the long winter season nights, and an electronic kit or 2 shipped to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this composing the website currently says that sales have been temporarily stopped to permit stock 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 company still has on hand after shuttering the majority of their physical areas in 2017 definitely sounds like something the new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were acquired by another company that plans to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were purchased 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 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 declares it’s effectively reversed other companies it’s launched 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 became a retail staple in the ’80s and ’90s for anyone wanting to get tech fundamentals. For a long period of time, that implied actual radio elements, however ended up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping got here, and the company filed for bankruptcy two times in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and offers top quality items within some areas of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” products at Kohl’s even though that seller shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would remain. Makeblock 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 overpriced HDMI cables and knockoff headphones.