The bright side is that as of today RadioShack. Radioshack True Rms 46 Range Digital Multimeter… has actually officially been purchased by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the iconic electronics seller to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found 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 countless bored kids and adults looking for something to do during the long winter season nights, and an electronic set or 2 delivered to their door might be simply the important things.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this composing the site currently says that sales have been momentarily stopped to allow for inventory restructuring, though it’s unclear 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 most of their physical locations in 2017 certainly seems like something the brand-new owners would want 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 company that prepares to relaunch the once-great seller as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand name globally.
REV declares it’s effectively reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech fundamentals. For a long time, that suggested actual radio elements, however wound up consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the company filed for insolvency twice in the past five years. RadioShack still licenses its name to third-party “authorized” shops and sells branded items within some areas of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack True Rms 46 Range Digital Multimeter
REV states 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 sufficient place to go when you desire to buy overpriced HDMI cables and knockoff headphones.