Fortunately is that as of today RadioShack. Radioshack Seven Segment Display… has actually officially been bought by Retail Ecommerce Ventures (REV), providing the struggling company a brand-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 concentrates on online retail, having formerly revamped the Web existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups searching for something to do throughout the long winter nights, and an electronic package or 2 delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this writing the site presently says that sales have been briefly stopped to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering most of their physical places in 2017 definitely sounds like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought offering phones and Televisions was somehow a good concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. However all of us understand how that story ended. While it does not look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a particular comfort in knowing that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another company that plans to relaunch the once-great retailer 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 brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand name globally.
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 income between the second and first quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Seven Segment Display
REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar adequate location to go when you want to purchase expensive HDMI cable televisions and knockoff headphones.