The bright side is that as of today RadioShack. What Time Radioshack Close… has formally been purchased by Retail Ecommerce Ventures (REV), offering the distressed company a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having actually formerly revamped the Web presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional shopping center. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s tough 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 set or two shipped to their door might be simply the important things.
REV states they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this composing the website presently states that sales have been temporarily stopped to enable inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering the majority of their physical locations in 2017 definitely sounds like something the 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 tvs and phones was somehow a good idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. However all of us know how that story ended. While it doesn’t look like this news will get us any closer to having an area shop that stocks resistors, there’s a particular convenience in understanding that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another business that prepares to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand globally.
REV claims it’s effectively reversed other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to get tech basics. For a very long time, that indicated real radio parts, however wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping arrived, and the company applied for personal bankruptcy two times in the past 5 years. RadioShack still licenses its name to third-party “licensed” shops and sells branded products within some areas of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would remain. What Time Radioshack Close
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you wish to purchase pricey HDMI cable televisions and knockoff earphones.