The good news is that as of today RadioShack. Radioshack Chenal Parkway… has formally been purchased by Retail Ecommerce Ventures (REV), providing the distressed company a brand-new lease on life. The downside, at least for folks like us, is that there are no immediate plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having formerly revamped the Internet existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your local shopping center. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults looking for something to do throughout the long winter nights, and an electronic set or 2 delivered to their door might be just the important things.
REV states they prepare to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this writing the site currently says that sales have been momentarily halted to permit 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 company still has on hand after shuttering most of their physical locations in 2017 certainly sounds like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they believed selling televisions and phones was somehow 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 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 store that stocks resistors, there’s a certain convenience in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The shop’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, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand name worldwide.
REV claims it’s successfully turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to get tech basics. For a very long time, that indicated actual radio elements, however wound up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping arrived, and the business applied for personal bankruptcy two times in the past 5 years. RadioShack still certifies its name to third-party “licensed” shops and sells top quality items within some areas of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stay. Radioshack Chenal Parkway
REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you desire to purchase expensive HDMI cables and knockoff earphones.