The good news is that since today RadioShack. Radioshack Topeka… has officially been bought by Retail Ecommerce Ventures (REV), providing the troubled company a new lease on life. The drawback, at least for folks like us, is that there are no instant strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having actually formerly revamped the Web presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter season nights, and an electronic set or two shipped to their door might be just the important things.
REV states they plan to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this composing the site presently says that sales have actually been temporarily halted to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering the majority of their physical places in 2017 certainly seems like something the 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 offering televisions and phones was somehow a great 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 shops. We all understand how that story ended. While it doesn’t appear like this news will get us any closer to having a community shop that stocks resistors, there’s a certain convenience in knowing that RadioShack books and kits 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 company that plans to relaunch the once-great seller as an online-focused brand name.
The store’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 also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand worldwide.
REV declares it’s effectively reversed other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in 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 looking to get tech essentials. For a long time, that implied actual radio components, but wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping got here, and the business filed for personal bankruptcy twice in the past five years. RadioShack still accredits its name to third-party “licensed” stores and sells branded items within some locations of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Topeka
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you want to buy pricey HDMI cables and knockoff earphones.