Fortunately is that as of today RadioShack. Nte 1v014 Mov Radioshack… has actually formally been purchased by Retail Ecommerce Ventures (REV), offering the struggling business a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronics seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually formerly revamped the Internet presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent 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 regional strip mall. As the US 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 during the long winter nights, and an electronic kit or two delivered to their door might be simply the thing.
REV states they plan to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this writing the website currently says that sales have been temporarily halted to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering the majority of their physical places in 2017 definitely seems like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they believed selling phones and Televisions was somehow 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 shops. We all understand how that story ended. While it doesn’t look like this news will get us any closer to having an area store that stocks resistors, there’s a specific comfort in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another business that plans to relaunch the once-great retailer 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 brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand internationally.
REV declares it’s successfully turned around other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 essentials. For a very long time, that implied real radio components, but wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping arrived, and the company declared personal bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “authorized” stores and offers branded items within some areas of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stick around. Nte 1v014 Mov Radioshack
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to purchase overpriced HDMI cables and knockoff earphones.