The good news is that since today RadioShack. Radioshack Morse Code Tapes… has officially been bought by Retail Ecommerce Ventures (REV), offering the troubled business a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually previously revamped the Web existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your regional strip mall. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter nights, and an electronic kit or more delivered to their door might be just the important things.
REV states they plan to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the site currently says that sales have actually been momentarily stopped to permit stock restructuring, though it’s unclear 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 sounds like something the new owners would want to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought offering phones and Televisions was somehow an excellent concept. To their credit, they did attempt 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 doesn’t appear like this news will get us any closer to having an area shop that stocks resistors, there’s a certain comfort in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name worldwide.
REV claims it’s effectively reversed other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Morse Code Tapes
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 sufficient location to go when you want to buy pricey HDMI cables and knockoff earphones.