The bright side is that as of today RadioShack. Where To Go Now That Radioshack Is Closed… has officially been purchased by Retail Ecommerce Ventures (REV), providing the distressed company a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having previously revamped the Internet presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults looking for something to do during the long winter season nights, and an electronic set or more delivered to their door might be just the important things.
REV says they plan to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website currently states that sales have actually been briefly halted to allow for stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering the majority of their physical locations in 2017 certainly sounds like something the new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they thought selling phones and Televisions was somehow a great idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the neighborhood what they ‘d want to see in their shops. We all know how that story ended. While it does not look like this news will get us any closer to having a community store that stocks resistors, there’s a certain comfort in knowing that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were bought by another company that plans to relaunch the once-great seller 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 brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand globally.
REV claims it’s effectively reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Where To Go Now That Radioshack Is Closed
REV states it will “soon relaunch” RadioShack’s site. 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 purchase expensive HDMI cable televisions and knockoff earphones.