Fortunately is that as of today RadioShack. Radioshack Articles… has actually officially been bought by Retail Ecommerce Ventures (REV), giving the distressed company a new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually 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 areas, it’s clear that REV believes 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 hard to disagree. There will be millions of bored kids and grownups trying to find something to do throughout the long winter nights, and an electronic package or 2 shipped to their door might be simply the important things.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this writing the website presently says that sales have been momentarily stopped to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering the majority of their physical areas in 2017 certainly sounds like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they thought offering televisions and phones was somehow an excellent concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. 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 certain convenience in understanding that RadioShack sets and books 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 company that plans to relaunch the once-great retailer 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 brands from other faded retail giants also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand internationally.
REV declares it’s successfully turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Articles
REV states it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you want to buy overpriced HDMI cables and knockoff headphones.