The good news is that as of today RadioShack. Radioshack Siloam Springs… has officially been acquired by Retail Ecommerce Ventures (REV), giving the struggling company a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the iconic electronics seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having previously revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not 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 found in your local strip mall. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults trying to find something to do throughout the long winter nights, and an electronic kit or two delivered to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this writing the site presently says that sales have actually been temporarily halted to permit stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering most of their physical locations in 2017 definitely sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered 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.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup 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 states RadioShack’s website already has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand name globally.
REV claims it’s successfully turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech basics. For a long time, that indicated actual radio parts, however ended up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping arrived, and the company filed for insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and offers branded products within some places of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” items at Kohl’s although that seller shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stay. Radioshack Siloam Springs
REV states it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you want to buy costly HDMI cables and knockoff headphones.