Fortunately is that since today RadioShack. Who Purchased Radioshack Tandy… has officially been acquired by Retail Ecommerce Ventures (REV), offering the struggling business a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually previously revamped the Internet existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. As the United States 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 trying to find something to do throughout the long winter season nights, and an electronic package or more delivered to their door might be simply the thing.
REV says they prepare to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this composing the site currently says that sales have actually been momentarily halted to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering most of their physical locations in 2017 definitely seems like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they thought offering phones and Televisions was in some way a great idea. 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. But all of us understand how that story ended. While it does not appear like this news will get us any closer to having an area store that stocks resistors, there’s a particular comfort in understanding that RadioShack kits and books will still be around for the next generation.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another business that plans to relaunch the once-great retailer as an online-focused brand name.
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 also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand name globally.
REV declares it’s effectively reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the second and very first 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 say whether those RadioShack licenses would stick around. Who Purchased Radioshack Tandy
REV says it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you want to buy pricey HDMI cables and knockoff headphones.