The bright side is that as of today RadioShack. Radioshack Rome Ga… has formally been acquired by Retail Ecommerce Ventures (REV), giving the distressed company a new lease on life. The downside, a minimum of for folks like us, is that there are no instant strategies to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having previously revamped the Internet presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright preclude the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults trying to find something to do during the long winter season nights, and an electronic package or more delivered to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this writing the website currently says that sales have been temporarily stopped to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering most of their physical locations in 2017 definitely seems like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they thought selling phones and Televisions was in some way a good idea. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. However we all understand how that story ended. While it does not look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a specific comfort in understanding that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another business that plans to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants as well, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand name internationally.
REV claims it’s successfully turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the 2nd and very first quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Rome Ga
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient place to go when you wish to purchase overpriced HDMI cable televisions and knockoff headphones.