Fortunately is that since today RadioShack. Radioshack Am/fm Weather Tabletop Radio User Guide… has formally been purchased by Retail Ecommerce Ventures (REV), providing the troubled 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 retailer to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having actually formerly revamped the Internet existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press 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 shopping center. 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 throughout the long winter season nights, and an electronic kit or two delivered to their door might be simply the important things.
REV states they prepare to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this writing the website currently says that sales have actually been momentarily halted to allow for stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering the majority of their physical locations in 2017 definitely seems like something the new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed selling phones and TVs was somehow a good idea. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. But we all know how that story ended. While it does not appear like this news will get us any closer to having an area store that stocks resistors, there’s a specific comfort in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another business that plans to relaunch the once-great seller as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand internationally.
REV declares it’s successfully turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second and very first 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 essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Am/fm Weather Tabletop Radio User Guide
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough place to go when you want to buy costly HDMI cable televisions and knockoff earphones.