Fortunately is that since today RadioShack. Radioshack Relays… has officially been purchased by Retail Ecommerce Ventures (REV), offering the distressed business a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually formerly revamped the Internet existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of brand-new physical RadioShack areas, 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 response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups trying to find something to do during the long winter season nights, and an electronic kit or more shipped to their door might be simply the important things.
REV states they prepare to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this composing the website currently states that sales have actually been temporarily halted to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of how much merchandise the business still has on hand after shuttering the majority of their physical locations in 2017 definitely sounds like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another company that plans to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand name globally.
REV claims it’s effectively reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 looking to get tech basics. For a very long time, that implied actual radio components, however wound up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping showed up, and the company applied for personal bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and offers branded products within some places of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stay. Radioshack Relays
REV states it will “quickly 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 want to purchase costly HDMI cables and knockoff headphones.