BRIGHTON, England - Apollo Wholesale, an British supplier of adult goods known for helping start-up companies with party planning and drop-shipping options, has closed up shop.
"This recession hit us so hard and fast we simply couldn't maintain operations at all," Apollo director Simon Early told Erotic Trade Only magazine. "Wholesalers rely on high volume at low margins, but without the stock and rapidly falling sales, massive exchange rate fluctuations and increased supply costs, we were unable to continue."
Early and Rod Thomas formed Apollo in 2002. Following Thomas' exit in 2007, the company restructured and claimed to have a database of 4,000 customers.
Apollo announced a merger with Adult Group Entertainment in 2008, but the deal never took place. According to ETO, this led to cash-flow problems and the seizure of Apollo's stock by its principal creditor.
