Fortunately is that as of today RadioShack. Radioshack Tour De France Team 2012… has formally been purchased by Retail Ecommerce Ventures (REV), providing the struggling business a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having actually previously revamped the Internet presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of brand-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 hard to disagree. There will be millions of bored kids and grownups looking for something to do throughout the long winter nights, and an electronic package or two delivered to their door might be simply the important things.
REV states they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this writing the site currently states that sales have been temporarily stopped to enable stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering the majority of their physical locations 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 prior to they believed selling 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 want to see in their shops. But all of us know how that story ended. While it doesn’t appear like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a specific comfort in understanding that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were acquired by another business that prepares to relaunch the once-great retailer as an online-focused brand name.
The store’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 also, consisting of 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 “positive” it can even more raise awareness of the brand name internationally.
REV claims it’s successfully turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Tour De France Team 2012
REV states it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to buy pricey HDMI cable televisions and knockoff headphones.