The good news is that as of today RadioShack. Radioshack San Mateo… has formally been bought by Retail Ecommerce Ventures (REV), offering the troubled company a new lease on life. The downside, at least for folks like us, is that there are no immediate plans to return the renowned electronics seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually previously revamped the Web presence of other bankrupt companies 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 thinks the future of retail isn’t to be found in your regional shopping center. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter nights, and an electronic kit or 2 delivered to their door might be simply the important things.
REV states they prepare to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this writing the website currently states that sales have been momentarily stopped to permit inventory 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 the majority of their physical places in 2017 certainly seems like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another company that prepares to relaunch the once-great merchant as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand name internationally.
REV claims 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 between the 2nd 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 essentials. For a long time, that implied real radio parts, but ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping arrived, and the business applied for insolvency two times in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and offers branded items within some locations of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” items at Kohl’s despite the fact that that seller shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stick around. Radioshack San Mateo
REV states it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient location to go when you want to purchase overpriced HDMI cable televisions and knockoff headphones.