Fortunately is that since today RadioShack. Radioshack Mid Valley… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the struggling company a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having actually formerly revamped the Web existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright preclude the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic package or more shipped to their door might be just the thing.
REV says they prepare to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this composing the site presently states that sales have been momentarily 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 most of their physical places in 2017 certainly sounds like something the new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they believed selling phones and Televisions was somehow an excellent concept. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. However all of us know how that story ended. While it doesn’t look like this news will get us any closer to having a community shop that stocks resistors, there’s a particular convenience in understanding that RadioShack sets and books 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 prepares to relaunch the once-great retailer as an online-focused brand.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand internationally.
REV declares it’s successfully reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Mid Valley
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you want to purchase expensive HDMI cable televisions and knockoff headphones.