The good news is that as of today RadioShack. Radioshack Trs80… has formally been bought by Retail Ecommerce Ventures (REV), giving the distressed company a brand-new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually previously revamped the Internet existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright preclude the possibility of new physical RadioShack locations, it’s clear that REV thinks 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 millions of bored kids and grownups trying to find something to do during the long winter nights, and an electronic package or more shipped to their door might be simply the thing.
REV states they prepare to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this writing the website currently states that sales have actually been momentarily halted to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering most of their physical locations in 2017 certainly sounds like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another company that prepares to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand name internationally.
REV claims it’s successfully reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in 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 anyone wanting to grab tech basics. For a long time, that suggested actual radio elements, however ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping got here, and the business filed for bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “authorized” shops and sells branded items within some areas of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stay. Radioshack Trs80
REV states it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient place to go when you want to buy costly HDMI cable televisions and knockoff headphones.