The bright side is that as of today RadioShack. When Did Radioshack Close In Canada… has actually formally been purchased by Retail Ecommerce Ventures (REV), giving the struggling business a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronics merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having formerly revamped the Web existence of other bankrupt services 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 thinks the future of retail isn’t to be found in your local shopping center. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter nights, and an electronic package or two shipped to their door might be just the important things.
REV says they plan to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the site presently says that sales have been temporarily stopped to permit stock restructuring, though it’s uncertain 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 certainly seems like something the new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they thought offering phones and TVs was somehow a good concept. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their shops. We all understand how that story ended. While it doesn’t appear like this news will get us any closer to having a community shop that stocks resistors, there’s a particular convenience in knowing that RadioShack sets and books will still be around for the next generation.
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 retailer 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, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand name worldwide.
REV claims it’s successfully turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody aiming to get tech basics. For a long period of time, that suggested real radio parts, however ended up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping got here, and the business filed for bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” shops and sells top quality items within some areas of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would remain. When Did Radioshack Close In Canada
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to purchase costly HDMI cable televisions and knockoff headphones.