Fortunately is that as of today RadioShack. What Time Does Radioshack Close On Thursday… has formally been purchased by Retail Ecommerce Ventures (REV), giving the troubled company a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually formerly revamped the Internet existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your local shopping center. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups searching for something to do throughout the long winter season nights, and an electronic set or 2 delivered to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this composing the website currently states that sales have been momentarily halted to allow for inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much product 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.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they believed selling televisions and phones was somehow a great concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. We all understand how that story ended. While it doesn’t appear 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 packages and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another business that prepares to relaunch the once-great merchant as an online-focused brand.
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, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand name internationally.
REV declares it’s successfully reversed other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. What Time Does Radioshack Close On Thursday
REV states it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to purchase overpriced HDMI cables and knockoff headphones.