Fortunately is that as of today RadioShack. Power Supply Tester Radioshack… has officially been acquired by Retail Ecommerce Ventures (REV), giving the struggling company a brand-new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually previously revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults looking for something to do throughout the long winter nights, and an electronic set or more shipped to their door might be simply the thing.
REV says they plan to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this composing the site presently states that sales have actually been briefly halted to allow for inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much merchandise the company still has on hand after shuttering the majority of their physical places in 2017 certainly 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 prior to they believed selling televisions and phones was somehow an excellent idea. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. However all of us understand how that story ended. While it doesn’t look like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a specific comfort in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another company that plans to relaunch the once-great merchant 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 Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand globally.
REV declares it’s effectively reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody seeking to grab tech essentials. For a long period of time, that implied actual radio parts, however wound up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping got here, and the company declared insolvency two times in the past five years. RadioShack still accredits its name to third-party “licensed” shops and sells top quality products within some places of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. Power Supply Tester Radioshack
REV states it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you desire to purchase pricey HDMI cable televisions and knockoff earphones.