Fortunately is that as of today RadioShack. Radioshack Amp Pa… has actually formally been acquired by Retail Ecommerce Ventures (REV), giving the struggling company a new lease on life. The drawback, at least for folks like us, is that there are no immediate plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Internet existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults looking for something to do during 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REV says they prepare to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this writing the site presently says that sales have been briefly stopped to enable inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were acquired 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 website currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand worldwide.
REV declares it’s effectively reversed other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in 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 anyone aiming to get tech essentials. For a long time, that indicated actual radio parts, however ended up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping got here, and the company declared bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and sells branded products within some areas of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stay. Radioshack Amp Pa
REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you desire to purchase costly HDMI cables and knockoff headphones.