Final Decision Reached: Graphic Arts Supplies.com to Close This Week
Press release from the issuing company
August 23, 2001 - Tustin, CA – Graphic Arts Supplies.com announced it has ceased all operations after a year and a half in operation. The company was seeking viable partnership opportunities among several major industry dealers, distributors, franchisors and manufacturers, but was recently unable to close on any of the negotiations. The business grew to a $1.2 million per year business, with half of their sales focusing on software in the creative and SOHO market. Privately held and operated, this level of success was achieved without the financial support of VC firms or corporate investors.
Said Gary Fisher, president, "Our working capital diminished as strong growth occurred despite reductions in overhead, however, a lackluster valuation of the vision of the service derailed recent acquisition opportunities. In order to provide top-notch service and distribution, we were in search of a key partner within the industry. The consolidation of Graphic Arts Supplies.com with a strategic partner would have been an asset to any company’s portfolio, unfortunately, this did not occur."
The company built a website capable of handling online purchases of consumable printing supplies, software and hardware. The electronic storefront was unique in that it tracked customers order histories and provided an easy to use interface for repeat orders. With a customer base over 1200, Graphic Arts Supplies.com was catching on quickly in the graphics industry, and even had contracts in place for multiple storefronts on other sites within the industry to provide fulfillment services to content providers. The first of such sites was successfully launched on Creativepro.com’s site two months ago.
Both Gary Fisher and David Harlan founded the company and have extensive experience within the industry from business management to production and prepress. "The technology built to provide the Internet storefront is available," says Gary Fisher, "We are hoping to find a suitable business that will best utilize what we built and carry on the fine tradition of servicing customers in this manner."
For more information, please contact Gary Fisher or David Harlan at 1-800-315-2321.
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