The good news is that as of today RadioShack. Radioshack Open On Thanksgiving… has formally been bought by Retail Ecommerce Ventures (REV), offering the struggling business a new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually formerly revamped the Web presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough 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 kit or two shipped to their door might be just the important things.
REV states they plan to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this composing the site currently says that sales have been temporarily stopped to allow for inventory restructuring, though it’s uncertain 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 the majority of their physical places in 2017 certainly sounds like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they thought selling phones and Televisions was somehow an excellent idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. We all know how that story ended. While it does not appear like this news will get us any closer to having an area store that stocks resistors, there’s a specific convenience in knowing that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another company that prepares to relaunch the once-great seller as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand worldwide.
REV declares it’s effectively reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and second quarter of 2020.
RadioShack was established in 1921 and ended up being 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 Open On Thanksgiving
REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you desire to purchase pricey HDMI cable televisions and knockoff earphones.