Fortunately is that since today RadioShack. Radioshack Suffolk Va… has formally been bought by Retail Ecommerce Ventures (REV), providing the distressed business a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually formerly revamped the Internet presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your local shopping center. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults trying to find something to do during the long winter nights, and an electronic set or two delivered to their door might be just the thing.
REV states they plan to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this composing the website currently states that sales have been temporarily halted to allow for inventory restructuring, though it’s unclear if this is straight 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 areas in 2017 definitely sounds like something the new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they believed selling televisions and phones was in some way an excellent concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. However we all understand how that story ended. While it does not appear like this news will get us any closer to having an area store that stocks resistors, there’s a particular convenience in knowing that RadioShack books and packages will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another business that prepares to relaunch the once-great seller as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand globally.
REV declares it’s effectively reversed other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone seeking to get tech fundamentals. For a long time, that indicated actual radio elements, but ended up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping got here, and the business applied for personal bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “authorized” stores and sells branded items within some locations of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would stay. Radioshack Suffolk Va
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 sufficient location to go when you want to purchase expensive HDMI cable televisions and knockoff earphones.