The good news is that since today RadioShack. Radioshack Pro 2040… has formally been acquired by Retail Ecommerce Ventures (REV), giving the troubled business a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually formerly revamped the Internet existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While journalism 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 discovered in your local strip mall. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults looking for something to do throughout the long winter nights, and an electronic package or two 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. Since this writing the website currently says that sales have actually been temporarily stopped to allow for 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 new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were acquired by another business that prepares 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 brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand internationally.
REV claims it’s effectively turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone aiming to get tech basics. For a long time, that meant real radio components, however wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping showed up, and the company filed for insolvency two times in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and sells branded items within some locations of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s even though that seller shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would remain. Radioshack Pro 2040
REV states it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to purchase pricey HDMI cable televisions and knockoff earphones.