The bright side is that since today RadioShack. Radioshack Saint Marys Ohio… has actually formally been acquired by Retail Ecommerce Ventures (REV), giving the troubled company a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having actually previously revamped the Web existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups searching for something to do throughout the long winter season nights, and an electronic package or more delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this composing the website currently states that sales have actually been briefly halted to enable inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the company still has on hand after shuttering the majority of their physical places in 2017 certainly seems like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another company that plans to relaunch the once-great retailer as an online-focused brand.
The shop’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 currently has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand name internationally.
REV declares it’s successfully turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to grab tech fundamentals. For a long time, that meant actual radio elements, however wound up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping got here, and the company declared personal bankruptcy twice in the past five years. RadioShack still accredits its name to third-party “licensed” stores and offers top quality products within some areas of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would remain. Radioshack Saint Marys Ohio
REV states it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you want to buy costly HDMI cables and knockoff headphones.