The good news is that since today RadioShack. Radioshack Rs232… has formally been acquired by Retail Ecommerce Ventures (REV), providing the distressed business a new lease on life. The drawback, at least for folks like us, is that there are no immediate plans to return the iconic electronics seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually formerly revamped the Web presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter season nights, and an electronic package or two shipped to their door might be simply the thing.
REV says they prepare to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this writing the site currently says that sales have actually been briefly halted to allow for stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering the majority of their physical areas in 2017 definitely sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another company that prepares to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand worldwide.
REV claims it’s successfully reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone aiming to get tech fundamentals. For a very long time, that implied real radio components, however wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping arrived, and the company declared personal bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” shops and offers branded products within some places of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Rs232
REV says it will “soon relaunch” RadioShack’s website. For those of you still sticking 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.