The good news is that as of today RadioShack. Radioshack 20-411… has actually officially been acquired by Retail Ecommerce Ventures (REV), giving the distressed company a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually formerly revamped the Internet presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your regional strip mall. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults trying to find something to do throughout the long winter nights, and an electronic package or 2 delivered to their door might be simply 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REV says they plan to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021.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 says that sales have been briefly halted to allow for stock 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 areas in 2017 certainly sounds 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 tvs and phones was in some way a good concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. However all of us know how that story ended. While it does not look like this news will get us any closer to having an area store that stocks resistors, there’s a certain convenience in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another company that plans to relaunch the once-great seller 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 brand names from other faded retail giants also, including 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 “confident” it can even more raise awareness of the brand worldwide.
REV claims it’s successfully reversed other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the very first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack 20-411
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 place to go when you want to purchase overpriced HDMI cable televisions and knockoff earphones.