Fortunately is that as of today RadioShack. Radioshack Cordless Battery Powered Soldering Iron… has officially been acquired by Retail Ecommerce Ventures (REV), giving the struggling company a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronics merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having formerly revamped the Internet existence of other insolvent organizations 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 thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls further lockdowns in reaction 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 package or more shipped to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this composing the site currently says that sales have actually been briefly stopped to permit inventory 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 the majority of their physical areas in 2017 certainly seems like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought selling tvs and phones was somehow a great idea. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. However all of us know how that story ended. While it doesn’t appear like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a specific comfort in understanding that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were acquired by another company that plans to relaunch the once-great merchant 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 also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand name worldwide.
REV declares 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 profits 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 anybody wanting to get tech fundamentals. For a very long time, that indicated actual radio elements, but wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping showed up, and the business filed for insolvency twice in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and sells branded items within some places of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stay. Radioshack Cordless Battery Powered Soldering Iron
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough location to go when you desire to purchase overpriced HDMI cables and knockoff earphones.