Fortunately is that since today RadioShack. Radioshack Pro-2066… has officially been acquired by Retail Ecommerce Ventures (REV), offering the distressed business a new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults looking for something to do throughout the long winter nights, and an electronic kit or 2 delivered to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this composing the site currently says that sales have actually been momentarily halted to allow for inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering the majority of their physical places in 2017 certainly seems like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they thought offering tvs and phones was in some way a great idea. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. We all understand how that story ended. While it doesn’t look like this news will get us any closer to having a community shop that stocks resistors, there’s a specific comfort in knowing that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another business that prepares to relaunch the once-great merchant as an online-focused brand.
The store’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 as well, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand name worldwide.
REV claims it’s successfully reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits 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 looking to get tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Pro-2066
REV states it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to buy expensive HDMI cables and knockoff headphones.