The good news is that as of today RadioShack. Radioshack Training… has actually officially been bought by Retail Ecommerce Ventures (REV), giving the distressed business a brand-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 merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having previously revamped the Internet presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out 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 local shopping center. As the US mulls further lockdowns in reaction 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 season nights, and an electronic kit or two delivered to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this composing the website presently says that sales have been briefly halted to enable 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 company still has on hand after shuttering most of their physical locations in 2017 certainly seems like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another business that prepares to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand globally.
REV claims it’s effectively reversed other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone aiming to grab tech fundamentals. For a very long time, that implied actual radio elements, 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 business declared personal bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and offers top quality items within some locations of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” products at Kohl’s even though that merchant shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would stay. Radioshack Training
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you want to purchase pricey HDMI cable televisions and knockoff earphones.