Fortunately is that since today RadioShack. Radioshack Rotary Tools 12o Peace Kit Parts Lift… has actually formally been bought by Retail Ecommerce Ventures (REV), providing the troubled business a brand-new lease on life. The disadvantage, a minimum of 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 indicates, REV concentrates on online retail, having actually previously revamped the Internet existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults trying to find something to do during the long winter season nights, and an electronic kit or two shipped to their door might be just the important things.
REV says they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this writing the site presently states that sales have actually been temporarily stopped to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering most of their physical areas in 2017 definitely sounds 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 prior to they believed offering tvs and phones was in some way a good concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. We all know how that story ended. While it doesn’t look like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a certain convenience in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were bought by another company that prepares to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand name internationally.
REV declares it’s effectively reversed other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the first and 2nd 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 essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Rotary Tools 12o Peace Kit Parts Lift
REV says it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar enough place to go when you wish to buy overpriced HDMI cables and knockoff headphones.