The good news is that since today RadioShack. Radioshack Nebraska… has actually officially been bought by Retail Ecommerce Ventures (REV), providing the distressed business a brand-new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having formerly revamped the Internet existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults trying to find something to do during the long winter nights, and an electronic set or more shipped to their door might be simply the thing.
REV states they prepare to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this composing the website presently states that sales have actually been momentarily stopped to allow for inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering most of their physical locations in 2017 definitely sounds like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another company that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand globally.
REV claims it’s successfully turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone seeking to get tech fundamentals. For a long period of time, that implied actual radio elements, but ended up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping got here, and the company declared personal bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “licensed” shops and offers branded items within some locations 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 ago. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Nebraska
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you desire to purchase pricey HDMI cables and knockoff earphones.