Fortunately is that since today RadioShack. Radioshack Catalog No. 63-1078… has formally been bought by Retail Ecommerce Ventures (REV), offering the struggling business a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having formerly revamped the Internet presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out preclude the possibility of new physical RadioShack places, it’s clear that REV thinks 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 difficult to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter nights, and an electronic package or more delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this writing the site presently says that sales have actually been temporarily halted to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering the majority of their physical locations in 2017 certainly sounds like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were bought by another company that prepares to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand worldwide.
REV declares it’s successfully reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in 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 anyone looking to get tech fundamentals. For a long time, that meant real radio parts, however ended up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping arrived, and the company filed for bankruptcy two times in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and offers top quality products within some places of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would remain. Radioshack Catalog No. 63-1078
REV states it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient location to go when you want to buy pricey HDMI cable televisions and knockoff headphones.