The bright side is that since today RadioShack. Radioshack Megaphone Manual… has officially been bought by Retail Ecommerce Ventures (REV), offering the struggling business 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 retailer to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually previously revamped the Web presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups trying to find something to do during the long winter season nights, and an electronic kit or 2 delivered to their door might be simply the thing.
REV says they prepare to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this writing the site presently says that sales have actually been temporarily halted to permit inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the company still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the new owners would want to do.
We all understand how that story ended.
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 bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand name globally.
REV claims it’s successfully turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech essentials. For a long period of time, that indicated real radio elements, however wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping arrived, and the business declared personal bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “authorized” stores and offers top quality items within some areas of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Megaphone Manual
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you wish to purchase overpriced HDMI cables and knockoff headphones.