The bright side is that as of today RadioShack. Radioshack Usb√®¬ω¬¨rs232√©¬©¬±√•≈†¬®√§¬∏‚äπ√®¬ω¬ω… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the struggling company a brand-new lease on life. The disadvantage, 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 indicates, REV concentrates on online retail, having previously revamped the Internet presence of other bankrupt 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 shopping center. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups searching for something to do during the long winter nights, and an electronic package or more shipped to their door might be just the thing.
REV says they prepare to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this writing the site currently states that sales have been temporarily halted to permit inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the business still has on hand after shuttering most of their physical places in 2017 definitely sounds like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they believed selling phones and TVs was in some way a great concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their stores. We all know how that story ended. While it doesn’t appear like this news will get us any closer to having an area shop that stocks resistors, there’s a certain convenience in knowing that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another business that prepares to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site 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 successfully turned around other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the 2nd 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 long time, that indicated actual radio elements, but wound up consisting of great deals of electronic toys (one Brink 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 top quality 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 years back. REV didn’t state whether those RadioShack licenses would stay. Radioshack Usb√®¬ω¬¨rs232√©¬©¬±√•≈†¬®√§¬∏‚äπ√®¬ω¬ω
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough location to go when you wish to buy expensive HDMI cables and knockoff headphones.