The bright side is that since today RadioShack. When Did Radioshack Close… has formally been bought by Retail Ecommerce Ventures (REV), providing the struggling business a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually formerly revamped the Internet presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter season nights, and an electronic set or two delivered to their door might be simply the thing.
REV states they plan to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the site currently states that sales have actually been momentarily stopped to permit inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering the majority of their physical places in 2017 definitely seems like something the new owners would wish to do.
Like most of you, we have fond memories of the Golden era of RadioShack, back prior to they believed selling tvs and phones was somehow a great idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. But all of us know 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 specific convenience 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 bought by another business that plans to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand worldwide.
REV claims it’s successfully reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. When Did Radioshack Close
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you want to purchase costly HDMI cables and knockoff earphones.