Fortunately is that as of today RadioShack. Radioshack S-video Cable… has formally been acquired by Retail Ecommerce Ventures (REV), providing the distressed company a new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the iconic electronics merchant to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having previously revamped the Web existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-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 response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter nights, and an electronic set or two delivered to their door might be just 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REV states they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021.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 presently says that sales have actually been momentarily stopped to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering most of their physical places in 2017 certainly seems like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another business that plans to relaunch the once-great merchant as an online-focused brand.
The shop’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 too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand name internationally.
REV claims it’s effectively reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone aiming to grab tech essentials. For a very long time, that meant real radio components, however ended up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping got here, and the business applied for insolvency twice in the past 5 years. RadioShack still licenses its name to third-party “licensed” stores and sells top quality items within some locations of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stick around. Radioshack S-video Cable
REV states it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you wish to buy costly HDMI cable televisions and knockoff earphones.