Fortunately is that as of today RadioShack. When Did Radioshack Start Failing… has actually officially been bought 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 renowned electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually previously revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright 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 regional shopping center. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults looking for something to do throughout the long winter season nights, and an electronic set or more shipped to their door might be simply the important things.
REV says they plan to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this writing the website currently says that sales have been briefly stopped to enable 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 business still has on hand after shuttering most of their physical places in 2017 definitely seems like something the brand-new owners would wish to do.
Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they believed offering phones and TVs was in some way an excellent concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. We all know how that story ended. While it does not look like this news will get us any closer to having a neighborhood shop that stocks resistors, there’s a specific comfort in knowing that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another business that plans to relaunch the once-great seller as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand internationally.
REV claims it’s effectively turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the second and first quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech essentials. REV didn’t say whether those RadioShack licenses would stick around. When Did Radioshack Start Failing
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you desire to buy costly HDMI cable televisions and knockoff headphones.