Fortunately is that as of today RadioShack. Radioshack Trs 80… has actually officially been purchased by Retail Ecommerce Ventures (REV), giving the distressed company a new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually formerly revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter nights, and an electronic set or two delivered to their door might be just the thing.
REV states they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website currently says that sales have actually been momentarily halted to enable inventory restructuring, though it’s uncertain if this is straight 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 areas in 2017 definitely seems like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were purchased by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants also, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states 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 globally.
REV declares it’s effectively turned around other business it’s launched 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 ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech essentials. For a long time, that implied actual radio components, however wound up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping showed up, and the company declared insolvency twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and sells branded items within some places of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would remain. Radioshack Trs 80
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough place to go when you desire to purchase pricey HDMI cables and knockoff headphones.