The bright side is that as of today RadioShack. When Did Radioshack Close In Crafton Ingram?… has actually formally been purchased by Retail Ecommerce Ventures (REV), offering the troubled company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having formerly revamped the Internet 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 places, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults looking for something to do during the long winter season nights, and an electronic package or two delivered to their door might be just the thing.
REV states they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this writing the website presently says that sales have been briefly stopped to allow for inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering most of their physical places in 2017 definitely seems like something the new owners would want to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back before they thought offering phones and Televisions was in some way a great concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. But all of us understand how that story ended. While it doesn’t look like this news will get us any closer to having a neighborhood store that stocks resistors, there’s a certain comfort in knowing that RadioShack packages 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 business that prepares to relaunch the once-great retailer as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand name worldwide.
REV declares it’s effectively turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody seeking to grab tech fundamentals. For a long time, that meant actual radio parts, however ended up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping showed up, and the business filed for bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” shops and offers branded items within some locations of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would remain. When Did Radioshack Close In Crafton Ingram?
REV states it will “quickly relaunch” RadioShack’s website. 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 buy expensive HDMI cable televisions and knockoff earphones.