Fortunately is that since today RadioShack. Radioshack Bluetooth… has officially been purchased by Retail Ecommerce Ventures (REV), giving the distressed business a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having previously revamped the Internet existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your regional strip mall. As the United States mulls even more lockdowns in action 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 during the long winter season nights, and an electronic package or two shipped to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this writing the website presently states that sales have actually been momentarily stopped to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering most of their physical areas in 2017 definitely sounds like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were bought by another company that prepares to relaunch the once-great merchant as an online-focused brand name.
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 too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand internationally.
REV claims it’s effectively turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody aiming to grab tech fundamentals. For a long period of time, that indicated actual radio parts, however ended up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping got here, and the business declared insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and sells branded items within some locations of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Bluetooth
REV states it will “soon relaunch” RadioShack’s site. 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 buy costly HDMI cable televisions and knockoff headphones.