The good news is that as of today RadioShack. Radioshack 4 In One Remote Control… has actually formally been bought by Retail Ecommerce Ventures (REV), giving the struggling business a brand-new lease on life. The drawback, a minimum of 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 indicates, REV specializes in online retail, having formerly revamped the Web presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the United States mulls further lockdowns in response 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 season nights, and an electronic kit or 2 delivered to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this composing the site currently says that sales have actually been temporarily halted to permit stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much product the business still has on hand after shuttering most of their physical areas in 2017 certainly sounds like something the brand-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 company that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name worldwide.
REV declares it’s effectively reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody aiming to get tech basics. For a very long time, that suggested actual radio elements, however wound up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping arrived, and the company declared personal bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and sells branded items within some locations of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stay. Radioshack 4 In One Remote Control
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient location to go when you desire to buy pricey HDMI cable televisions and knockoff headphones.