The bright side is that since today RadioShack. Radioshack Gigaware 25-157 Driver… has formally been purchased by Retail Ecommerce Ventures (REV), giving 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 retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Web presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter nights, and an electronic package or 2 shipped to their door might be simply the important things.
REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this composing the site currently says that sales have actually been temporarily stopped to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering the majority of their physical locations in 2017 definitely seems like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they believed selling tvs and phones was somehow a good idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. However we all understand how that story ended. While it does not look like this news will get us any closer to having a community store that stocks resistors, there’s a specific convenience in knowing that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another company that prepares to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand globally.
REV declares it’s successfully turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits 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 get tech essentials. For a very long time, that indicated real radio elements, but wound up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping showed up, and the company filed for insolvency two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and sells top quality items within some locations of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stay. Radioshack Gigaware 25-157 Driver
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient location to go when you wish to purchase expensive HDMI cables and knockoff earphones.