The bright side is that since today RadioShack. Radioshack Cat. No. 1500528… has actually formally been bought by Retail Ecommerce Ventures (REV), providing the struggling business a brand-new lease on life. The drawback, at least for folks like us, is that there are no immediate plans to return the renowned electronics seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having previously revamped the Web existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out 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 strip mall. As the US mulls even more lockdowns in reaction 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 nights, and an electronic set or 2 shipped to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this writing the site currently states that sales have actually been temporarily stopped to permit inventory restructuring, though it’s uncertain if this is directly 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 places in 2017 definitely seems like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were acquired by another company that prepares to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names 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 capacity,” and the company is “positive” it can further raise awareness of the brand name worldwide.
REV claims it’s successfully reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income 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 anybody seeking to grab tech fundamentals. For a long period of time, that meant real radio parts, but wound up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping got here, and the company declared insolvency twice in the past five years. RadioShack still accredits 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 find “Sharper Image” products at Kohl’s even though that seller shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stay. Radioshack Cat. No. 1500528
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 adequate place to go when you desire to buy pricey HDMI cable televisions and knockoff headphones.