The good news is that as of today RadioShack. Radioshack Op Amp… has actually formally been acquired by Retail Ecommerce Ventures (REV), giving the troubled business a new lease on life. The drawback, at least for folks like us, is that there are no immediate strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually formerly revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your local 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 grownups looking for something to do during the long winter season nights, and an electronic package or 2 delivered to their door might be just the important things.
REV says they plan to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the website presently says that sales have actually been briefly halted to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much merchandise the business still has on hand after shuttering most of their physical places in 2017 certainly sounds like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another company that plans to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand name worldwide.
REV declares it’s effectively turned around other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the very 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 wanting to get tech fundamentals. For a long time, that indicated real radio elements, but ended up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping got here, and the business filed for bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and sells top quality products within some places of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” items at Kohl’s although that seller shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Op Amp
REV states it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you wish to buy pricey HDMI cables and knockoff earphones.