The good news is that as of today RadioShack. Radioshack Weather Radio 12-250… has formally been purchased by Retail Ecommerce Ventures (REV), giving the distressed business a new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the renowned electronics retailer to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually formerly revamped the Web existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of brand-new physical RadioShack locations, 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 response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups trying to find something to do during the long winter season nights, and an electronic package or two shipped to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this writing the website presently states that sales have actually been momentarily halted to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering most of their physical places in 2017 certainly sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another business that plans to relaunch the once-great seller as an online-focused brand name.
The shop’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 too, consisting of 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 “confident” it can further raise awareness of the brand name globally.
REV claims it’s effectively reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody wanting to get tech basics. For a long period of time, that indicated real radio elements, however wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping got here, and the company applied for insolvency two times in the past five years. RadioShack still certifies its name to third-party “licensed” stores and sells top quality items within some areas of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stay. Radioshack Weather Radio 12-250
REV says it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient location to go when you want to purchase pricey HDMI cable televisions and knockoff earphones.