The bright side is that since today RadioShack. Radioshack Digital Answering Machine… has actually formally been purchased by Retail Ecommerce Ventures (REV), providing the distressed company a new lease on life. The drawback, at least for folks like us, is that there are no immediate plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Web existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups searching for something to do throughout the long winter nights, and an electronic package or two delivered to their door might be simply the thing.
REV states they plan to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this composing the site presently says that sales have actually been temporarily halted to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering the majority of their physical areas in 2017 definitely sounds like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another business that prepares to relaunch the once-great seller 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 too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand name internationally.
REV declares it’s successfully turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone seeking to grab tech basics. For a long time, that meant real radio parts, but wound up consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping arrived, and the company declared bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “licensed” shops and offers branded products within some locations of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stay. Radioshack Digital Answering Machine
REV says it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you want to purchase expensive HDMI cable televisions and knockoff earphones.