Fortunately is that as of today RadioShack. Radioshack Des Moines… has actually formally been bought by Retail Ecommerce Ventures (REV), providing the struggling company a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant strategies to return the renowned electronics merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having formerly revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press 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 United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults trying to find something to do during the long winter nights, and an electronic package or 2 delivered to their door might be simply the thing.
REV states they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this writing the site currently says that sales have been momentarily stopped to allow for 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 most of their physical locations in 2017 definitely seems like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another company that prepares to relaunch the once-great seller as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand name worldwide.
REV declares it’s effectively reversed other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody wanting to grab tech basics. For a very long time, that meant real radio elements, but wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping got here, and the business filed for personal bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and offers branded items within some places of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that seller shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would remain. Radioshack Des Moines
REV states it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you desire to purchase pricey HDMI cables and knockoff headphones.