Fortunately is that since today RadioShack. Radioshack Pro-70… has actually formally been bought by Retail Ecommerce Ventures (REV), offering the distressed company a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually formerly revamped the Web presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults looking for something to do during the long winter season nights, and an electronic package or two shipped to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this composing the site currently states that sales have actually been temporarily stopped to enable inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering most of their physical locations in 2017 definitely sounds like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought selling phones and TVs was in some way an excellent idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their shops. However all of us 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 books and sets will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were purchased by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
The shop’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, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand name internationally.
REV claims it’s successfully reversed other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to get tech fundamentals. For a long period of time, that indicated real radio components, however ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping arrived, and the company applied for bankruptcy two times in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and sells branded products within some locations of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stay. Radioshack Pro-70
REV states 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 sufficient place to go when you want to purchase overpriced HDMI cable televisions and knockoff earphones.