The bright side is that since today RadioShack. Radioshack Houston… has officially been bought by Retail Ecommerce Ventures (REV), offering the troubled company a new lease on life. The downside, at least for folks like us, is that there are no immediate plans to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually previously revamped the Web presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your local shopping center. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter nights, and an electronic set or 2 shipped to their door might be simply the important things.
REV states they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this composing the site presently states that sales have actually been briefly halted to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering most of their physical areas in 2017 definitely sounds like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another company that prepares to relaunch the once-great retailer as an online-focused brand.
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 as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand name worldwide.
REV declares it’s effectively reversed other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to get tech essentials. For a very long time, that indicated real radio elements, but ended up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping showed up, and the business filed for bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and offers branded items within some areas of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would remain. Radioshack Houston
REV says it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you want to buy pricey HDMI cables and knockoff earphones.