The good news is that since today RadioShack. Radioshack Electronics Components Pack 2… has officially been purchased by Retail Ecommerce Ventures (REV), providing the struggling 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 implies, REV focuses on online retail, having actually previously revamped the Internet presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local shopping center. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter season nights, and an electronic package or two delivered to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this writing the site currently states that sales have been momentarily stopped to permit stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another business that plans to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand globally.
REV declares it’s effectively reversed other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody aiming to get tech essentials. For a long period of time, that implied real radio elements, but ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping arrived, and the company applied for insolvency twice in the past five years. RadioShack still certifies its name to third-party “authorized” shops and offers branded items within some locations of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would remain. Radioshack Electronics Components Pack 2
REV says it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you want to purchase expensive HDMI cable televisions and knockoff earphones.