The good news is that as of today RadioShack. When Will Radioshack Go Out Of Business… has formally been acquired by Retail Ecommerce Ventures (REV), giving the troubled business a brand-new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually previously revamped the Internet presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your regional strip mall. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults searching for something to do during the long winter nights, and an electronic set or 2 delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website currently says that sales have actually been momentarily stopped to enable inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering most of their physical areas in 2017 definitely seems like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed selling phones and Televisions was somehow an excellent concept. To their credit, they did try and revive their relationship with hackers and makers by asking the neighborhood 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 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 prepares to relaunch the once-great seller as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand internationally.
REV declares it’s successfully reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to grab tech essentials. For a long period of time, that indicated actual radio elements, but ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the business declared personal bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “authorized” stores and sells branded products within some areas of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. When Will Radioshack Go Out Of Business
REV says it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough place to go when you wish to purchase pricey HDMI cables and knockoff headphones.