The good news is that as of today RadioShack. Radioshack Wichita Kansas… has actually formally been bought by Retail Ecommerce Ventures (REV), giving the troubled business 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 implies, REV focuses on online retail, having previously revamped the Internet existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic package or more delivered to their door might be just the important things.
REV says they plan to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this composing the site currently says that sales have actually been temporarily stopped to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering the majority of their physical areas in 2017 certainly sounds like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed offering phones and Televisions was somehow a great idea. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. But all of us know how that story ended. While it does not appear like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a specific comfort in knowing that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were acquired by another company that plans to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand globally.
REV claims it’s successfully turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody seeking to grab tech fundamentals. For a long period of time, that meant real radio elements, but ended up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping arrived, and the business filed for insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and offers branded products within some places of HobbyTown, a crafts retailer– similar 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 remain. Radioshack Wichita Kansas
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to purchase pricey HDMI cable televisions and knockoff earphones.