Fortunately is that as of today RadioShack. Radioshack Deals On Cell Phones… has actually formally been acquired by Retail Ecommerce Ventures (REV), giving the troubled company a new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually previously revamped the Internet existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent 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 United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter season nights, and an electronic set or more shipped to their door might be simply the thing.
REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this writing the website presently says that sales have been briefly stopped to allow for stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering the majority of their physical places in 2017 definitely seems like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they believed offering phones and TVs was in some way 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 stores. But we all know how that story ended. While it does not appear like this news will get us any closer to having an area shop that stocks resistors, there’s a particular convenience in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were acquired 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 start-up founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand name internationally.
REV claims it’s successfully turned around other business it’s released 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 became a retail staple in the ’80s and ’90s for anyone seeking to grab tech essentials. For a long period of time, that implied real radio elements, however ended up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping arrived, and the company declared insolvency twice in the past five years. RadioShack still accredits its name to third-party “licensed” stores and sells top quality items within some locations of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would remain. Radioshack Deals On Cell Phones
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough place to go when you desire to purchase costly HDMI cable televisions and knockoff headphones.