Fortunately is that since today RadioShack. Radioshack 275-1571… has actually formally been purchased by Retail Ecommerce Ventures (REV), providing the distressed business a brand-new lease on life. The drawback, at least for folks like us, is that there are no immediate plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your local shopping center. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups searching for 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REV says they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this composing the site currently states that sales have been briefly halted to enable 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 business still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another business that plans to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up 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 states RadioShack’s website already has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand globally.
REV declares it’s effectively turned around other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income 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 get tech fundamentals. For a long period of time, that meant actual radio elements, but ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping showed up, and the business filed for bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “authorized” stores and sells top quality items within some locations of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack 275-1571
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to purchase overpriced HDMI cables and knockoff earphones.