The good news is that since today RadioShack. Radioshack Jumping And Standing Forum… has actually formally been bought by Retail Ecommerce Ventures (REV), giving the troubled business a new lease on life. The downside, a minimum of for folks like us, is that there are no instant strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having formerly revamped the Web existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults looking for something to do during the long winter season nights, and an electronic set or 2 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 business’s 100th anniversary in 2021. As of this composing the website currently says that sales have been temporarily halted to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering the majority of their physical locations in 2017 definitely seems like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were acquired by another company that prepares to relaunch the once-great seller 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 too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand name globally.
REV declares it’s effectively reversed other business it’s launched as online brands. 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 ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech basics. For a long period of time, that indicated actual radio parts, but ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping showed up, and the business applied for personal bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “licensed” stores and offers branded items within some locations of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Jumping And Standing Forum
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 adequate location to go when you want to buy costly HDMI cable televisions and knockoff earphones.