The bright side is that as of today RadioShack. Queens. Location Of Radioshack Stores ?… has officially been purchased by Retail Ecommerce Ventures (REV), offering the distressed business a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having previously revamped the Internet existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your local strip mall. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups searching for something to do during the long winter season nights, and an electronic set or more delivered to their door might be just the important things.
REV states 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 presently 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 how much product the company still has on hand after shuttering most of their physical areas in 2017 certainly seems like something the new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed selling phones and TVs was in some way an excellent concept. 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. However we all understand how that story ended. While it does not look like this news will get us any closer to having a community shop that stocks resistors, there’s a certain comfort in knowing that RadioShack kits and books will still be around for the next generation.
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 merchant 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 says RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand name worldwide.
REV claims it’s effectively reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in 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 anybody seeking to grab tech basics. For a long period of time, that suggested actual radio parts, but wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping showed up, and the company filed for insolvency two times in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and offers branded items within some areas of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” items at Kohl’s although that seller shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stick around. Queens. Location Of Radioshack Stores ?
REV states it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough location to go when you want to buy costly HDMI cable televisions and knockoff headphones.