Fortunately is that since today RadioShack. Radioshack Scanner Code 3-02… has formally been acquired by Retail Ecommerce Ventures (REV), offering the distressed 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 electronic devices seller to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having previously revamped the Internet presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your local 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 millions of bored kids and grownups trying to find something to do during the long winter season nights, and an electronic package or 2 shipped to their door might be just the important things.
REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this writing the site presently states that sales have been momentarily halted to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering most of their physical areas in 2017 definitely 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 purchased by another business that prepares to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand globally.
REV declares it’s successfully turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits 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 looking to get tech basics. For a long time, that suggested real radio components, however ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping arrived, and the company filed for bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and sells top quality items within some places of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would remain. Radioshack Scanner Code 3-02
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar enough location to go when you want to purchase costly HDMI cable televisions and knockoff headphones.