Fortunately is that as of today RadioShack. Wind Up Radio Radioshack… has formally been purchased by Retail Ecommerce Ventures (REV), offering the troubled company a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having formerly revamped the Internet presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the United States 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 grownups looking for something to do during the long winter nights, and an electronic kit or two shipped to their door might be simply the thing.
REV says they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this composing the website presently states that sales have been briefly halted to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering the majority of their physical areas in 2017 definitely 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 bought by another business that plans to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand worldwide.
REV claims it’s effectively turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income 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 aiming to grab tech basics. For a very long time, that indicated actual radio components, but ended up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping showed up, and the business declared bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and offers branded products within some areas of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stay. Wind Up Radio Radioshack
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough location to go when you desire to buy expensive HDMI cable televisions and knockoff headphones.