The good news is that as of today RadioShack. Radioshack Forbes Ave… has actually formally been bought by Retail Ecommerce Ventures (REV), offering the distressed company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having previously revamped the Web existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults looking for something to do during the long winter nights, and an electronic kit or 2 shipped to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this composing the website currently states that sales have actually been briefly halted to allow for 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 company still has on hand after shuttering the majority of their physical places in 2017 certainly seems like something the 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 purchased by another company that prepares to relaunch the once-great seller as an online-focused brand name.
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, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand name internationally.
REV claims it’s successfully turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 anybody wanting to grab tech fundamentals. For a long time, that implied actual radio components, but ended up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping showed up, and the company applied for insolvency twice in the past five years. RadioShack still licenses its name to third-party “licensed” shops and sells branded items within some locations of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stay. Radioshack Forbes Ave
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough place to go when you want to purchase pricey HDMI cable televisions and knockoff headphones.