Fortunately is that as of today RadioShack. Radioshack Stakeholders… has formally been bought by Retail Ecommerce Ventures (REV), offering the troubled business a new lease on life. The drawback, at least for folks like us, is that there are no instant strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually formerly revamped the Web existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups looking for something to do during the long winter nights, and an electronic package or more delivered to their door might be simply the thing.
REV says they prepare to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this composing the site currently says that sales have actually been briefly 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 how much merchandise the business still has on hand after shuttering most of their physical locations in 2017 definitely seems like something the new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they believed selling phones and TVs was in some way a good idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. We all know how that story ended. While it doesn’t look like this news will get us any closer to having a community shop that stocks resistors, there’s a certain comfort in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were acquired by another company that plans to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants as well, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand name globally.
REV declares it’s successfully reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to grab tech essentials. For a long period of time, that meant real radio elements, but ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping got here, and the business applied for bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” shops and sells top quality items within some areas of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would remain. Radioshack Stakeholders
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you wish to buy expensive HDMI cables and knockoff earphones.