SAN FRANCISCO—Distribution giant General Video/Adult Supersource is stopping all product ordering by the close of business today and will be shuttering permanently June 14. Owner David Sturman cited a weak economy as the reason for closure.
GVA West (which changed its name to Adult Supersource in 2004), will be contacting its vendors to pay any outstanding invoices.
Going forward, the company’s remaining 28 retail stores will be placing its orders directly from the vendor. All new shipments will be paid on a strict 30-day basis by each store. Sturman said that he would personally be contacting each vendor to make these arrangements.
“I want to thank you for your past support and continued business,” Sturman said in a letter announcing the closure. “I couldn’t describe how much we appreciate and are thankful for having you as a supplier. In the past we have faced challenging hurdles and have made many changes in order to stay profitable. These changes include huge expense reductions, changes in our marketing strategy, and closely monitoring all our purchasing of products and supplies. We have made these changes in the face of a recession that has no end in sight but are committed to ride out the poor economy and look ahead to the future.”
Adult Supersource had dramatically reduced its sales staff in recent years and had trouble paying its recent bills, according to sources.
Questions should be addressed to Sturman by phone at (415) 468-5600, or via email to [email protected].
Adult Supersource was once part of General Video, founded by David’s father, the legendary Reuben Sturman.
