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119 US Jewelry Retailers Closed in the 1st Quarter

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

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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.

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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.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

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If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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