The good news is that since today RadioShack. Radioshack 2 Way Portable Amplified Speaker System 40-1432… has officially been purchased by Retail Ecommerce Ventures (REV), offering the distressed business a new lease on life. The disadvantage, at least 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 indicates, REV focuses on online retail, having formerly revamped the Web presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out preclude the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults searching for something to do during the long winter season nights, and an electronic set or 2 shipped to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this composing the website currently states that sales have actually been briefly halted to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering most of their physical places in 2017 definitely seems like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another business that plans to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand name internationally.
REV declares it’s successfully turned around other companies it’s introduced as online brands. 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 anyone aiming to grab tech basics. For a very long time, that implied actual radio components, however ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the company filed for bankruptcy twice 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 merchant– similar to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that retailer shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack 2 Way Portable Amplified Speaker System 40-1432
REV says 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 adequate location to go when you want to buy overpriced HDMI cable televisions and knockoff headphones.