Fortunately is that as of today RadioShack. Radioshack Electret Stereo Microphone… has officially been purchased by Retail Ecommerce Ventures (REV), offering the distressed business a brand-new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually formerly revamped the Internet existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups trying to find something to do during the long winter season nights, and an electronic set or two shipped to their door might be just the important things.
REV says they prepare to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this writing the site presently states that sales have actually been momentarily halted to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering most of their physical locations in 2017 certainly sounds like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another company that plans to relaunch the once-great retailer 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, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand name internationally.
REV claims it’s effectively reversed other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone aiming to get tech essentials. For a long period of time, that implied real radio parts, but ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping arrived, and the company declared personal bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and sells top quality items within some areas of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Electret Stereo Microphone
REV says it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar enough place to go when you wish to buy expensive HDMI cable televisions and knockoff earphones.