The bright side is that as of today RadioShack. Radioshack Inline Antenna Signal Amplifier… has actually formally been acquired by Retail Ecommerce Ventures (REV), offering the troubled company a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the renowned electronics merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually formerly revamped the Internet existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic kit or more delivered to their door might be just the thing.
REV says they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this writing the website presently states that sales have actually been momentarily stopped to allow for stock 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 business still has on hand after shuttering the majority of their physical areas 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 given another shock of life today when they were acquired by another company that plans to relaunch the once-great seller as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name worldwide.
REV declares it’s successfully turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to grab tech basics. For a very long time, that indicated real radio components, but ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping got here, and the company applied for bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and sells top quality items within some areas of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that seller shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Inline Antenna Signal Amplifier
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you desire to purchase pricey HDMI cables and knockoff earphones.