Fortunately is that as of today RadioShack. Radioshack Resistor Assortment… has formally been acquired by Retail Ecommerce Ventures (REV), providing the troubled business a brand-new lease on life. The drawback, at least for folks like us, is that there are no immediate strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having actually previously revamped the Internet existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups searching for something to do throughout the long winter season nights, and an electronic set or 2 shipped to their door might be simply the thing.
REV states they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website currently states that sales have been briefly halted to allow for stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering the majority of their physical areas in 2017 certainly sounds like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
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 as well, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand name internationally.
REV declares it’s effectively reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody aiming to get tech basics. For a very long time, that meant actual radio elements, however wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping showed up, and the company applied for insolvency two times in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and sells top quality products within some places of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stay. Radioshack Resistor Assortment
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 adequate place to go when you desire to buy expensive HDMI cable televisions and knockoff earphones.