The good news is that as of today RadioShack. Radioshack 1/16 Porsche 918 Spyder Remote Controlled Car… has officially been purchased by Retail Ecommerce Ventures (REV), offering the distressed 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 iconic electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually previously revamped the Web presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press 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 found in your local strip mall. As the United States 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 trying to find something to do during the long winter nights, and an electronic package or 2 shipped to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the website presently states that sales have actually been briefly halted to enable 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 wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were purchased by another business that prepares to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand worldwide.
REV claims it’s successfully reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the second and very first 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 fundamentals. For a long time, that meant real radio components, but wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping arrived, and the business applied for personal bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “licensed” shops and sells top quality items within some areas of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. Radioshack 1/16 Porsche 918 Spyder Remote Controlled Car
REV states it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient location to go when you desire to purchase overpriced HDMI cables and knockoff earphones.