The good news is that as of today RadioShack. What Time Does Radioshack Close On Sunday… has formally been acquired by Retail Ecommerce Ventures (REV), giving the troubled business a new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having previously revamped the Internet existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your local shopping center. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults looking for something to do throughout the long winter season nights, and an electronic set or more shipped to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the website presently states that sales have been briefly stopped to permit 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 locations in 2017 definitely sounds like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they believed selling phones and TVs was in some way a good concept. 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 shops. We all know how that story ended. While it doesn’t look like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a specific convenience in knowing that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another business that plans to relaunch the once-great merchant as an online-focused brand name.
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 as well, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand name internationally.
REV claims it’s effectively turned around other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the 2nd 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 essentials. For a long period of time, that meant actual radio parts, however ended up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping arrived, and the company applied for bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and offers branded items within some places of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would remain. What Time Does Radioshack Close On Sunday
REV says 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 enough location to go when you want to buy costly HDMI cables and knockoff headphones.