Fortunately is that as of today RadioShack. Radioshack Pro 79… has actually officially been purchased by Retail Ecommerce Ventures (REV), offering the distressed business a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronics seller to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually formerly revamped the Web presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of brand-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 US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults trying to find something to do throughout the long winter nights, and an electronic kit or 2 shipped to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this writing the website presently says that sales have actually been momentarily halted to allow for inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering most of their physical locations in 2017 certainly seems like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought offering televisions and phones was somehow an excellent idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. But we all understand how that story ended. While it does not appear like this news will get us any closer to having a community shop that stocks resistors, there’s a specific comfort in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were acquired by another company that plans to relaunch the once-great merchant as an online-focused brand.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand name worldwide.
REV claims it’s successfully reversed other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 wanting to grab tech fundamentals. For a long period of time, that suggested real radio parts, but wound up including 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 business filed for bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “authorized” stores and sells top quality products within some locations of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” products at Kohl’s although that seller shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would remain. Radioshack Pro 79
REV states it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you wish to purchase costly HDMI cables and knockoff headphones.