Fortunately is that as of today RadioShack. Radioshack Monroe Louisiana… has formally been bought by Retail Ecommerce Ventures (REV), giving the struggling company a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having previously revamped the Web 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 locations, it’s clear that REV believes the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults looking for something to do during the long winter nights, and an electronic set or two shipped to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this composing the site presently says that sales have been momentarily stopped to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering most of their physical locations in 2017 definitely seems like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were purchased by another business that plans 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 as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand worldwide.
REV claims it’s successfully reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in 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 get tech essentials. For a long period of time, that suggested actual radio parts, however ended up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the business declared bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “licensed” stores and offers branded 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 merchant shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Monroe Louisiana
REV states it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar adequate location to go when you wish to buy expensive HDMI cables and knockoff headphones.