Fortunately is that since today RadioShack. Radioshack 372-092 Speaker… has actually officially been purchased by Retail Ecommerce Ventures (REV), offering the troubled company a brand-new lease on life. The drawback, at least for folks like us, is that there are no immediate strategies to return the renowned electronics merchant to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having formerly revamped the Internet existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults searching for something to do during the long winter nights, and an electronic kit or more delivered to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this writing the site presently states that sales have actually been briefly halted to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering the majority of their physical areas in 2017 definitely seems like something the new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another company that plans to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand name internationally.
REV declares it’s successfully turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to get tech fundamentals. For a long period of time, that suggested actual radio components, however ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping showed up, and the company declared personal bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and offers branded items within some areas of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stick around. Radioshack 372-092 Speaker
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you want to buy overpriced HDMI cables and knockoff headphones.