The bright side is that since today RadioShack. Radioshack Traverse City… has formally been bought by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronics merchant to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having formerly revamped the Internet existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic set or 2 delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this writing the website presently says that sales have actually been momentarily stopped to enable stock restructuring, though it’s uncertain 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 locations in 2017 certainly sounds like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were acquired by another business that plans to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup 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 states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand internationally.
REV claims it’s effectively reversed other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody seeking to grab tech essentials. For a very long time, that suggested actual radio elements, but ended up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping showed up, and the company declared personal bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “authorized” shops and sells branded products within some places of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that seller shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stay. Radioshack Traverse City
REV states it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient location to go when you desire to purchase costly HDMI cable televisions and knockoff headphones.