The bright side is that since today RadioShack. Redman, Et Al. V. Radioshack,… has officially been purchased by Retail Ecommerce Ventures (REV), providing the distressed business a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronic devices seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually previously revamped the Web presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of brand-new physical RadioShack locations, 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 reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults searching for something to do throughout the long winter nights, and an electronic package or two delivered to their door might be just the thing.
REV says they prepare to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this composing the site presently states that sales have actually been momentarily halted to permit stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering most of their physical places in 2017 definitely seems like something the 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 thought offering televisions and phones was somehow a great idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. We all know how that story ended. While it does not look like this news will get us any closer to having an area shop that stocks resistors, there’s a certain convenience in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt 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 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 too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand internationally.
REV claims it’s effectively turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody wanting to grab tech basics. For a long period of time, that meant real radio components, but wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping got here, and the business declared personal bankruptcy two times in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and sells top quality items within some places of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stay. Redman, Et Al. V. Radioshack,
REV states it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you wish to buy costly HDMI cables and knockoff headphones.