The good news is that as of today RadioShack. Radioshack Manuals “60-4211″… has officially been purchased by Retail Ecommerce Ventures (REV), providing the troubled business a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having previously revamped the Web presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright 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 strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups 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 presently says that sales have actually been temporarily stopped to enable 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 the majority of their physical areas in 2017 definitely seems like something the new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed selling phones and TVs was somehow an excellent concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. We all understand how that story ended. While it does not appear like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a certain comfort in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were acquired by another company that plans to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand name worldwide.
REV claims it’s effectively turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 seeking to grab tech fundamentals. For a long period of time, that implied actual radio parts, however wound up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping arrived, and the business declared personal bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and offers top quality products within some locations of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” products at Kohl’s although that seller shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would remain. Radioshack Manuals “60-4211”
REV says it will “quickly 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 buy overpriced HDMI cable televisions and knockoff earphones.