The bright side is that as of today RadioShack. Springfiled Il Radioshack… has actually formally been purchased by Retail Ecommerce Ventures (REV), giving the struggling company a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually formerly revamped the Internet existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your regional 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 looking for something to do during the long winter season nights, and an electronic kit or 2 delivered to their door might be just the thing.
REV says they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this composing the website currently states that sales have been briefly stopped to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much merchandise the business still has on hand after shuttering the majority of their physical areas in 2017 certainly seems like something the brand-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 bought by another company that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants as well, 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 company is “positive” it can further raise awareness of the brand name internationally.
REV declares 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 between the first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone seeking to grab tech fundamentals. For a long period of time, that suggested actual radio elements, but wound up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping got here, and the company applied for insolvency two times in the past five years. RadioShack still accredits its name to third-party “licensed” shops and sells branded products within some locations of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stay. Springfiled Il Radioshack
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you want to buy pricey HDMI cable televisions and knockoff earphones.