Fortunately is that since today RadioShack. Radioshack Tandy S1-2140… has formally been purchased by Retail Ecommerce Ventures (REV), giving the struggling company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the renowned electronics seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having previously revamped the Internet existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. As the United States mulls even more lockdowns in action 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 2 delivered to their door might be just the thing.
REV states they prepare to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this composing the website presently states that sales have been briefly halted to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the company still has on hand after shuttering the majority of their physical areas in 2017 certainly sounds like something the brand-new owners would want to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they believed selling phones and Televisions was in some way a good concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. We all know how that story ended. While it doesn’t appear like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a certain convenience in knowing that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another business that plans to relaunch the once-great retailer 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 also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website 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 claims it’s effectively turned around other business it’s launched as online brands. 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 became a retail staple in the ’80s and ’90s for anyone wanting to grab tech fundamentals. For a long time, that meant actual radio parts, but wound up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping got here, and the company filed for personal bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “authorized” stores and offers top quality items within some places of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would remain. Radioshack Tandy S1-2140
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to buy expensive HDMI cable televisions and knockoff headphones.