Fortunately is that since today RadioShack. Radioshack 5.8 Ghz… has actually formally been purchased by Retail Ecommerce Ventures (REV), providing the struggling company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the renowned electronics merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having previously revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic kit or more delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this writing the site presently says that sales have been briefly halted to permit inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they believed selling tvs and phones was somehow an excellent idea. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. But we all know how that story ended. While it doesn’t appear like this news will get us any closer to having an area shop that stocks resistors, there’s a certain convenience in knowing 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 bought by another business that plans to relaunch the once-great seller as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand name worldwide.
REV claims it’s effectively turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in 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 wanting to grab tech fundamentals. For a very long time, that suggested actual radio elements, but wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping arrived, and the company applied for bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and sells branded items within some areas of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack 5.8 Ghz
REV states it will “soon 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 desire to purchase pricey HDMI cable televisions and knockoff headphones.