The good news is that as of today RadioShack. Radioshack Bedford, Va… has actually officially been bought by Retail Ecommerce Ventures (REV), offering the troubled 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 merchant to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having actually formerly revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local shopping center. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups searching for something to do during the long winter nights, and an electronic set or two shipped to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021.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 states that sales have been momentarily stopped to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering most of their physical places in 2017 certainly sounds like something the 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 selling televisions and phones was in some way a good concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. We all know how that story ended. While it doesn’t look like this news will get us any closer to having an area shop that stocks resistors, there’s a certain comfort in knowing that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were bought by another business that prepares to relaunch the once-great merchant as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand name globally.
REV declares it’s effectively reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the 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 aiming to get tech basics. For a very long time, that indicated real radio elements, however ended up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping showed up, and the company filed for insolvency twice in the past five years. RadioShack still licenses its name to third-party “licensed” stores and offers branded products within some areas of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” items 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 Bedford, Va
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 adequate place to go when you want to purchase expensive HDMI cables and knockoff earphones.