The good news is that as of today RadioShack. Radioshack Premium Gold Solid-core… has officially been purchased by Retail Ecommerce Ventures (REV), giving the struggling 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 renowned electronics merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually formerly revamped the Internet existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your local shopping center. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic set or 2 shipped to their door might be just the thing.
REV states they prepare to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this writing the website currently states that sales have been momentarily halted to enable inventory restructuring, though it’s unclear if this is directly 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 areas in 2017 certainly sounds like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they thought selling phones and TVs was somehow an excellent concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. But all of us know how that story ended. While it does not look like this news will get us any closer to having an area shop that stocks resistors, there’s a certain convenience in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another company that plans to relaunch the once-great retailer as an online-focused brand name.
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 too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand worldwide.
REV claims it’s effectively turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Premium Gold Solid-core
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you want to buy expensive HDMI cables and knockoff headphones.