Fortunately is that since today RadioShack. Radioshack Manual… has actually officially been purchased by Retail Ecommerce Ventures (REV), offering the distressed company a new lease on life. The disadvantage, 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 suggests, REV focuses on online retail, having formerly revamped the Internet presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your local strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults looking for something to do throughout the long winter nights, and an electronic set or more shipped to their door might be just the important things.
REV states they prepare to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this writing the site presently states that sales have been temporarily halted to permit inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering most of their physical places 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 given another shock of life today when they were acquired by another business that prepares to relaunch the once-great seller as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand name worldwide.
REV declares it’s effectively turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody wanting to get tech fundamentals. For a long time, that meant actual radio parts, but wound up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping got here, and the company applied for insolvency twice in the past 5 years. RadioShack still certifies its name to third-party “licensed” shops and offers branded products within some locations of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stay. Radioshack Manual
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 place to go when you want to purchase costly HDMI cable televisions and knockoff earphones.