The bright side is that as of today RadioShack. Radioshack 1200996… has officially been bought 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 instant plans to return the renowned electronics seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having formerly revamped the Web presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright preclude the possibility of new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups looking for something to do throughout the long winter nights, and an electronic package or more shipped to their door might be simply the important things.
REV states they prepare to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this writing the website presently says that sales have actually been momentarily stopped to permit stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they thought offering phones and TVs was in some way a good concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. However all of us know how that story ended. While it doesn’t look like this news will get us any closer to having an area shop 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 acquired by another company that prepares to relaunch the once-great retailer as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up 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 says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand globally.
REV declares it’s successfully turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack 1200996
REV says 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 wish to purchase pricey HDMI cables and knockoff earphones.