Fortunately is that as of today RadioShack. Radioshack Hyperscan… has officially been bought by Retail Ecommerce Ventures (REV), offering the struggling business a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no immediate strategies to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having actually formerly revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups looking for something to do during the long winter nights, and an electronic set or more delivered to their door might be simply the thing.
REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this composing the website currently states that sales have been momentarily halted to permit inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering most of their physical places in 2017 certainly seems like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they thought selling televisions and phones was somehow an excellent 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 stores. We all know how that story ended. While it doesn’t look like this news will get us any closer to having an area 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 provided another shock of life today when they were purchased by another company that prepares to relaunch the once-great seller as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand globally.
REV declares it’s effectively turned around other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone seeking to grab tech basics. For a very long time, that implied actual radio components, however ended up including 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 declared insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and sells top quality items within some areas of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would remain. Radioshack Hyperscan
REV says it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient location to go when you desire to buy pricey HDMI cable televisions and knockoff headphones.