The Jewelers Board of Trade reports that 416 U.S. jewelry businesses closed their doors in the third quarter.
The number was up 31 percent from the same quarter of last year.
Most of the businesses that closed were retail jewelers, but wholesalers and manufacturers are also included in the figure. The closures were categorized as consolidations, bankruptcies or, in the majority of cases, simply “ceased operations.”
So far this year, 1,256 jewelry businesses in the U.S. have closed, according to the Jewelers Board of Trade. That’s a 49 percent increase from 844 through the first three quarters of last year.
In Canada, 10 jewelry businesses closed their doors in the third quarter, compared with six in the third quarter of 2015. Through the first three quarters, 37 jewelry businesses have closed in Canada, compared with 25 during the first three quarters of last year.
In the third quarter, 64 new jewelry businesses opened in the U.S., including 49 retailers. That’s compared with 74 in the third quarter of 2015.
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In Canada, two new jewelry businesses opened in the third quarter, both of them retailers. That’s up from zero in the third quarter of 2015.
