Fortunately is that as of today RadioShack. When Was Radioshack Founded… has officially been purchased by Retail Ecommerce Ventures (REV), offering the troubled business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having previously revamped the Internet existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups searching for something to do throughout the long winter nights, and an electronic kit or two shipped to their door might be just the important things.
REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this writing the website presently says that sales have been briefly halted to allow for inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering the majority of their physical areas in 2017 certainly seems like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another business that plans to relaunch the once-great merchant as an online-focused brand.
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 too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand name globally.
REV declares it’s effectively reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody wanting to get tech basics. For a long time, that meant actual radio components, but ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping showed up, and the company declared insolvency two times in the past five years. RadioShack still accredits its name to third-party “authorized” shops and sells top quality products within some areas of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would stick around. When Was Radioshack Founded
REV says it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to purchase pricey HDMI cables and knockoff earphones.