Fortunately is that as of today RadioShack. Radioshack Bozerman… has officially been bought by Retail Ecommerce Ventures (REV), giving the distressed company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually formerly revamped the Internet presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls further lockdowns in response 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 kit or two shipped to their door might be just the thing.
REV says they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this writing the site currently states that sales have actually been temporarily halted to enable stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much product the business 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 era of RadioShack, back prior to they believed selling tvs and phones was in some way a great idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. We all understand how that story ended. While it doesn’t appear like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a specific convenience in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another company that plans to relaunch the once-great retailer 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 too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand name worldwide.
REV declares it’s successfully turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the second and 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 Bozerman
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to purchase pricey HDMI cable televisions and knockoff earphones.