The bright side is that as of today RadioShack. Radioshack Df… has actually officially been purchased by Retail Ecommerce Ventures (REV), offering the troubled business a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate plans to return the renowned electronics seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having formerly revamped the Internet presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t 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 found in your local shopping center. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic set or more delivered to their door might be simply the important things.
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 presently says that sales have been momentarily stopped to enable inventory restructuring, though it’s uncertain if this is directly 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 locations in 2017 definitely seems like something the new owners would want 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 plans to relaunch the once-great seller as an online-focused brand.
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 Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name internationally.
REV declares it’s successfully reversed other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 looking to get tech basics. For a long period of time, that suggested actual radio components, however ended up consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping showed up, and the business filed for personal bankruptcy twice in the past five years. RadioShack still certifies its name to third-party “licensed” stores and sells branded products within some locations of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Df
REV states 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 enough place to go when you want to purchase overpriced HDMI cables and knockoff headphones.