Going Backwards to Move Forward?

BLUF: About a month and half ago my position was eliminated during a company reduction in force. I am considering taking  step backwards in role (and compensation) within my industry in an effort to move my career forward and would appreciate some insight and feedback and whether this would be smart or galactically stupid.

Long Version: My company cut me during a RIF and since then I have been actively seeking a new role. My area is multi-store loss preventon management in specialty and small box retail. Retail is obviously a tough sector at the moment as many retailers are struggling. After a round of interviews by phone and flying to a corporate office, I actually received a verbal offer a couple weeks ago. Unfortunately the verbal offer was withdrawn prior to becoming a written offer due to an EVP deciding in the 11th hour that the position would not be filled. Definitely a gut punch but as Mark says, until you've got something, you've got nothing. Since then there have been virtually zero opportunities / interviews in multi-store roles.

There have been several opportunities in single store roles in big box retail. These roles represent a step back of 2-3 levels from my most recent position but could be the start of a career path forward in big box. I would like to move into a multi-store role similar to what I've been doing but in a big box environment and I am not afraid to start in a lower level role while I make my bones in a new company. I can also handle the reduction in salary while I do this.

Is this idea galactically stupid? Or could this work? I'm genuinely interested in feedback. Thanks!