The bright side is that since today RadioShack. Radioshack In My Location… has formally been purchased by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually previously revamped the Internet existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional shopping center. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter season nights, and an electronic kit or two shipped to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this composing the site presently states that sales have actually been temporarily halted to enable stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much merchandise the business still has on hand after shuttering the majority of their physical places in 2017 definitely seems like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were bought by another business that plans to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand internationally.
REV claims it’s effectively turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the second and first 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 long period of time, that suggested actual radio elements, however wound up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping arrived, and the company filed for bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “licensed” shops and sells branded items within some locations of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stick around. Radioshack In My Location
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to buy expensive HDMI cables and knockoff earphones.