Annapolis Performance Sailing out of business. Click here to discuss.
It is with much sadness that we are announcing the permanent closing of APS. Unfortunately, we are unable to bear the burden of the losses caused by the COVID-19 crisis. We want to first and foremost thank you, our customers, for your continued support throughout our 29 years of business. 2020 was our first year under the new model of exclusively retailing foul weather gear and sailing apparel.
The ability to focus all or our creative energies on, and share our knowledge of technical sailing gear is something that allows a specialty retailer like APS to provide an outstanding value. Both January and February were a strong start, with increased sales that exceeded our projections handsomely. In the midst of a new store build out and many other new initiatives, APS’ new model was on the path to full realization. Unfortunately, nothing could have prepared us for the new reality of COVID-19, something many small businesses are now facing. Since Maryland’s order to close all non-essential businesses, APS’ operations have been shuttered and all employees furloughed.
We have been processing the few orders we receive online twice a week for a few hours, but other than that we have been closed, and with very minimal cash flow. With the costs incurred from properly transitioning the company to the new sales model last fall, and a closure forced right at the end of the off season (when funds are low and accumulated off season costs are highest), the financial realities have become too much, and drastic action is required in order to protect all parties to APS’ business.
Sadly, APS will be permanently closing, and all inventories liquidated by way of an online sale. We would like to thank our customers and vendors, who we have so enjoyed serving and working with. The sport of sailing and the sailing industry is full of wonderful people that make it a special place to work and play.
Most sincerely, and with gratitude,
Kyle E. Gross
Founder, Owner and President, APS Ltd.