Headlines

119 US Jewelry Retailers Closed in the 1st Quarter

The number represents a significant decrease from the year-ago quarter.

Published

3 years ago

April 20, 2021

INSTORE Staff

The Jewelers Board of Trade reported that 119 U.S. jewelry retailers closed their doors in the first quarter of 2021.

That number represented a decrease from 238 closings in the first quarter of 2020.

The total included 89 retailers in the category of “ceased operations” as well as 26 “consolidations (sale/merger)” and four bankruptcies.

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 144. That was a decrease from 291 in the first quarter of 2020.

Meanwhile, JBT reported that 30 new retailers opened their doors in the U.S., down from 39 in the first quarter of 2020.

The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 33. That was down from 48 new businesses in the year-ago quarter.

JBT listed a total of 18,263 jewelry retailers in the U.S. as of the first quarter of 2021, down from 18,532 in the same quarter a year ago.

The group listed 24,095 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 24,464 in the first quarter of 2020.

INSTORE Staff

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

click to Comment(Comment)

Up Next

Feds Accuse Texas Man of Selling Fake Native American Jewelry Online

Don't Miss

2 Charged in $70,000 Jewelry Store Robbery in Salt Lake City

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”