The good news is that since today RadioShack. Radioshack Silver-bearing Solder Kester?… has actually officially been purchased by Retail Ecommerce Ventures (REV), offering the distressed 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 renowned electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually previously revamped the Web presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic set or two shipped to their door might be simply the thing.
REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this composing the site currently states that sales have been briefly stopped to allow for stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering the majority of their physical locations in 2017 definitely sounds like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another business 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 too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand globally.
REV claims it’s effectively turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody seeking to get tech basics. For a long period of time, that implied real radio parts, however ended up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping showed up, and the company filed for personal bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and offers branded items within some areas of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stay. Radioshack Silver-bearing Solder Kester?
REV states 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 adequate location to go when you want to purchase costly HDMI cables and knockoff earphones.