Fortunately is that as of today RadioShack. Pilas Recargables Radioshack… has officially been acquired by Retail Ecommerce Ventures (REV), providing the troubled 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 electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having previously revamped the Web presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release does not 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 discovered in your local shopping center. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups trying to find something to do during the long winter season nights, and an electronic kit or two shipped to their door might be just the important things.
REV says they prepare to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the website currently states that sales have been temporarily stopped to permit stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering most of their physical places in 2017 definitely seems like something the new owners would want to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they thought offering tvs and phones was in some way a good idea. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. But all of us understand how that story ended. While it doesn’t appear like this news will get us any closer to having an area store that stocks resistors, there’s a certain convenience in knowing that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were bought by another company that plans to relaunch the once-great seller as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand name globally.
REV claims it’s successfully reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech basics. For a long period of time, that suggested actual radio components, however wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping showed up, and the company filed for insolvency two times in the past 5 years. RadioShack still licenses its name to third-party “licensed” stores and sells top quality products within some places of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would stay. Pilas Recargables Radioshack
REV states it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to buy pricey HDMI cable televisions and knockoff headphones.