Fortunately is that as of today RadioShack. Radioshack Round Rock Tx… has actually officially been acquired by Retail Ecommerce Ventures (REV), giving the troubled 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 previously revamped the Internet presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter nights, and an electronic kit or two shipped to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this composing the site presently states that sales have actually been momentarily halted to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just 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 want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they thought offering phones and Televisions was somehow a good concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their shops. However we all know 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 particular convenience in knowing that RadioShack kits and books 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 prepares to relaunch the once-great merchant as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand worldwide.
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 in between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody seeking to grab tech essentials. For a very long time, that suggested actual radio parts, however wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping arrived, and the business applied for personal bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” stores and offers top quality products within some locations of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that seller shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stay. Radioshack Round Rock Tx
REV states it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you wish to purchase costly HDMI cables and knockoff headphones.