Fortunately is that as of today RadioShack. Radioshack Switcher Hdtv… has actually formally been bought by Retail Ecommerce Ventures (REV), giving the struggling company a new lease on life. The downside, at least 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 indicates, REV specializes in online retail, having previously revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults looking for something to do during the long winter nights, and an electronic set or 2 shipped to their door might be simply the thing.
REV states they prepare to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this composing the website currently states that sales have been momentarily stopped to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering the majority of their physical areas in 2017 definitely seems like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they thought offering televisions and phones was in some way a good concept. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. But we all understand how that story ended. While it does not look like this news will get us any closer to having a community shop that stocks resistors, there’s a specific convenience in knowing that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were bought by another company that plans to relaunch the once-great seller as an online-focused brand.
The store’s remains were bought 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 Item, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand globally.
REV claims it’s effectively turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits 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 essentials. For a long time, that meant real radio elements, but ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping showed up, and the business applied for insolvency two times in the past 5 years. RadioShack still certifies its name to third-party “licensed” stores and offers branded products within some places of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that retailer shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would remain. Radioshack Switcher Hdtv
REV says it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough place to go when you want to buy expensive HDMI cable televisions and knockoff earphones.