The bright side is that as of today RadioShack. Radioshack Timer Delay… has actually formally been bought by Retail Ecommerce Ventures (REV), giving the distressed business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronics seller to its brick-and-mortar roots. As the name indicates, REV focuses on 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 locations, it’s clear that REV thinks the future of retail isn’t to be found in your regional strip mall. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups trying to find something to do during the long winter season nights, and an electronic package or 2 delivered to their door might be simply the thing.
REV says they prepare to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this composing the website currently says that sales have actually been momentarily stopped to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering most of their physical areas in 2017 definitely seems like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were purchased by another business that plans to relaunch the once-great merchant 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 brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand worldwide.
REV claims it’s successfully turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the 2nd and 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 basics. For a long period of time, that suggested actual radio components, however ended up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping arrived, and the business filed for personal bankruptcy twice in the past five years. RadioShack still accredits its name to third-party “authorized” shops and sells branded products within some locations of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stay. Radioshack Timer Delay
REV states it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough place to go when you want to purchase overpriced HDMI cables and knockoff earphones.