Fortunately is that since today RadioShack. Radioshack Update… has actually officially been purchased by Retail Ecommerce Ventures (REV), providing the troubled business a brand-new lease on life. The downside, at least for folks like us, is that there are no immediate plans to return the iconic electronic devices seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually previously revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter season nights, and an electronic package or more shipped to their door might be just the important things.
REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this writing the website currently says that sales have actually been briefly halted to permit stock restructuring, though it’s unclear 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 most of their physical locations in 2017 certainly seems like something the new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they believed selling phones and Televisions was in some way a good idea. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. However we all understand how that story ended. While it does not appear like this news will get us any closer to having a community shop that stocks resistors, there’s a particular convenience in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another business that plans to relaunch the once-great merchant as an online-focused brand.
The store’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 also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand worldwide.
REV claims it’s successfully reversed other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to get tech basics. For a very long time, that suggested actual radio parts, but 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 arrived, and the company declared insolvency twice in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and offers branded products within some locations of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stay. Radioshack Update
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough place to go when you want to purchase overpriced HDMI cables and knockoff earphones.