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195 US Jewelry Retailers Closed in the Second Quarter

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Closings are flat, and more new businesses are opening.

The Jewelers Board of Trade reported that 195 U.S. jewelry retailers closed their doors in the second quarter of 2018.

That number represented no change from the number of closings in the second quarter of 2017.

The total included 158 retailers in the category of “ceased operations” as well as 34 “consolidations (sale/merger)” and three bankruptcies.

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 234. That was a decrease from 235 in the second quarter of 2017.

Meanwhile, JBT reported that 63 new retailers opened their doors in the U.S., up from 22 in the second quarter of 2017.

The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 71. That was up from 25 new businesses in the year-ago quarter.

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JBT listed a total of 19,270 jewelry retailers in the U.S. as of the second quarter of 2018, down from 20,136 in the same quarter a year ago.

The group listed 25,484 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 26,682 in the second quarter of 2017.

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Celebrate Your Retirement with Wilkerson

For nearly three decades, Suzanne and Tom Arnold ran a successful business at Facets Fine Jewelry in Arlington, Va. But the time came when the Arnolds wanted to do some of the things you put off while you’ve got a business to run. “We decided it was time to retire,” says Suzanne, who claims the couple knew how to open a store, how to run a store but “didn’t know how to close a store.” So, they hired Wilkerson to do it for them. When she called, Suzanne says Wilkerson offered every option for the sale she could have hoped for. Better still, “the sale exceeded our financial goals like crazy,” she says. And customers came, not only to take advantage of the going-out-of-business buys and mark-downs, but to wish a bon voyage to the beloved proprietors of a neighborhood institution. “People were celebrating our retirement, and that was so special,” says says.

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