Fortunately is that since today RadioShack. Selfie Stick Radioshack… has formally been purchased by Retail Ecommerce Ventures (REV), providing the struggling business a new lease on life. The downside, a minimum of for folks like us, is that there are no instant plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually formerly revamped the Internet presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out preclude the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your local strip mall. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups looking for something to do during the long winter nights, and an electronic set or more delivered to their door might be simply the important things.
REV states they plan to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this composing the website presently states that sales have been momentarily halted to allow for stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering most of their physical places in 2017 definitely seems like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another company that plans to relaunch the once-great seller as an online-focused brand.
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 also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand name worldwide.
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 revenue in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to grab tech basics. For a very long time, that meant real radio elements, but wound up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping arrived, and the business declared bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “authorized” stores and offers branded products within some locations of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would remain. Selfie Stick Radioshack
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to purchase expensive HDMI cables and knockoff earphones.