Fortunately is that as of today RadioShack. Radioshack Pro-39… has officially been acquired by Retail Ecommerce Ventures (REV), offering the troubled company a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having previously revamped the Internet presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your local strip mall. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults looking for something to do during the long winter season nights, and an electronic package or two delivered to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this composing the website currently states that sales have been momentarily stopped to enable stock 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 company still has on hand after shuttering most of their physical areas in 2017 definitely seems like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another business that plans to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name internationally.
REV claims it’s successfully reversed other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone seeking to get tech fundamentals. For a very long time, that indicated actual radio parts, but ended up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping got here, and the business filed for bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “authorized” shops and sells branded items within some areas of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Pro-39
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you want to buy pricey HDMI cable televisions and knockoff earphones.