Fortunately is that as of today RadioShack. Radioshack Heat Shrink Tubing… has formally been acquired by Retail Ecommerce Ventures (REV), giving the distressed business a new lease on life. The drawback, at least for folks like us, is that there are no instant strategies to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually formerly revamped the Web existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups trying to find something to do during the long winter nights, and an electronic set or two delivered 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 composing the site presently says that sales have been temporarily stopped to permit stock restructuring, though it’s uncertain 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 places in 2017 certainly sounds like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they thought selling phones and Televisions was in some way a great concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. However all of us understand how that story ended. While it does not appear like this news will get us any closer to having a community store that stocks resistors, there’s a particular comfort in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another company that plans to relaunch the once-great seller as an online-focused brand name.
The store’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 website already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand name internationally.
REV claims it’s successfully reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. For a long time, that indicated actual radio components, however wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping got here, and the business applied for bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “licensed” shops and offers branded items within some areas of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” items at Kohl’s although that seller shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stay. Radioshack Heat Shrink Tubing
REV states it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you want to purchase costly HDMI cables and knockoff earphones.