The good news is that since today RadioShack. Radioshack Close By… has actually formally been purchased by Retail Ecommerce Ventures (REV), giving the distressed business a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having formerly revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered 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 millions of bored kids and adults looking for something to do during the long winter nights, and an electronic package or 2 shipped to their door might be just the thing.
REV says they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this writing the website currently states that sales have actually been momentarily halted to enable stock 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 business still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they thought selling televisions and phones was in some way a good idea. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. We all understand how that story ended. While it does not appear like this news will get us any closer to having an area store that stocks resistors, there’s a specific convenience in knowing that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another company that plans to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand name globally.
REV claims it’s successfully reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second 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 basics. For a very long time, that implied real radio components, however ended up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping arrived, and the business applied for bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “licensed” shops and sells branded items within some areas of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Close By
REV states it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient location to go when you want to purchase costly HDMI cables and knockoff headphones.