Fortunately is that as of today RadioShack. Radioshack Holiday Deals… has officially been purchased by Retail Ecommerce Ventures (REV), providing the troubled company a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant strategies to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having previously revamped the Internet existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent 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 United States 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 looking for something to do throughout the long winter nights, and an electronic package or two delivered to their door might be simply the important things.
REV states they plan to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this composing the website presently says that sales have been briefly halted to allow for inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering most of their physical locations in 2017 definitely seems like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were bought by another company that plans to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand name internationally.
REV claims it’s effectively reversed other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody wanting to get tech basics. For a very long time, that implied actual radio elements, however ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping got here, and the company declared insolvency two times in the past five years. RadioShack still licenses its name to third-party “licensed” shops and offers top quality items within some locations of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stay. Radioshack Holiday Deals
REV says it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you want to buy pricey HDMI cables and knockoff headphones.