Fortunately is that since today RadioShack. Radioshack – Closed Madison, Wi… has officially been purchased by Retail Ecommerce Ventures (REV), giving the struggling company a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having formerly revamped the Web existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your local shopping center. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults trying to find something to do during the long winter nights, and an electronic set or two delivered to their door might be just the thing.
REV states they prepare to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this composing the website presently says that sales have been temporarily stopped to permit inventory restructuring, though it’s unclear 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 the majority 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 thought selling phones and Televisions was in some way a great concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. But we all understand how that story ended. While it does not look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a particular convenience in knowing that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another business that prepares to relaunch the once-great retailer as an online-focused brand name.
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 too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand name internationally.
REV declares it’s successfully turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack – Closed Madison, Wi
REV states it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar enough location to go when you want to buy costly HDMI cable televisions and knockoff headphones.