The bright side is that as of today RadioShack. Radioshack Pro 95… has officially been bought by Retail Ecommerce Ventures (REV), offering the struggling company a brand-new lease on life. The downside, at least for folks like us, is that there are no immediate plans to return the renowned electronics merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having formerly revamped the Internet existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your local strip mall. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups searching for something to do during the long winter season nights, and an electronic kit or two delivered to their door might be simply the thing.
REV says they plan to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this composing the site currently says that sales have been briefly halted to allow for stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they believed selling phones and TVs was in some way a great idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. However we all understand how that story ended. While it does not appear like this news will get us any closer to having an area store that stocks resistors, there’s a particular convenience in knowing that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were acquired by another business that prepares to relaunch the once-great seller as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands 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 even more raise awareness of the brand name internationally.
REV declares it’s successfully turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Pro 95
REV says 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 enough place to go when you desire to buy costly HDMI cables and knockoff headphones.