Fortunately is that since today RadioShack. Why Is Radioshack Going Down… has formally been purchased by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronics retailer to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually previously revamped the Web presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright 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 local shopping center. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults trying to find something to do during the long winter season nights, and an electronic set or 2 delivered to their door might be just the important things.
REV says they prepare to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this writing the website currently says that sales have actually been briefly stopped to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering most of their physical areas in 2017 certainly sounds like something the brand-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 in some way a good concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the neighborhood what they ‘d wish to see in their stores. We all understand how that story ended. While it does not look like this news will get us any closer to having an area shop that stocks resistors, there’s a particular convenience in understanding that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand name worldwide.
REV declares it’s effectively reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech essentials. For a long time, that suggested actual radio parts, but wound up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping showed up, and the business declared insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and offers branded products within some locations of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” products at Kohl’s despite the fact that that retailer shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stay. Why Is Radioshack Going Down
REV states 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 adequate location to go when you desire to purchase pricey HDMI cable televisions and knockoff earphones.