Fortunately is that since today RadioShack. Radioshack Component And S-video 4-in/1-out Remote Controlled A/v Selector… has officially been acquired by Retail Ecommerce Ventures (REV), giving the troubled company a brand-new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the iconic electronics retailer to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually formerly revamped the Internet presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press 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 found in your local shopping center. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups searching for something to do throughout the long winter nights, and an electronic kit or two shipped to their door might be simply 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REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this composing the site currently states that sales have been momentarily halted to allow for stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering most of their physical places in 2017 definitely seems like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another business that prepares to relaunch the once-great merchant as an online-focused brand.
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 too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand worldwide.
REV claims it’s effectively turned around other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the very first and second 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 long period of time, that implied real radio components, but ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping arrived, and the company applied for personal bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” stores and sells top quality products within some areas of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that seller shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Component And S-video 4-in/1-out Remote Controlled A/v Selector
REV says it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar adequate location to go when you want to buy pricey HDMI cables and knockoff headphones.