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282 US Jewelry Retailers Closed in the First Quarter

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That’s an increase from first-quarter 2017.

The Jewelers Board of Trade reported that 282 U.S. jewelry retailers closed their doors in the first quarter of 2018.

That number represented an increase from 250 closings in the first quarter of 2017.

The total included 241 retailers in the category of “ceased operations” as well as 36 “consolidations (sale/merger)” and five bankruptcies.

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 343. That was an increase from 318 in the first quarter of 2017.

Meanwhile, JBT reported that 45 new retailers opened their doors in the U.S., up from 37 in the first quarter of 2017.

The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 62. That was up from 46 new businesses in the year-ago quarter.

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JBT listed a total of 19,385 jewelry retailers in the U.S. as of the first quarter of 2018, down from 20,214 in the same quarter a year ago.

The group listed 25,667 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 26,808 in the first quarter of 2017.

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Mary and Tim Whalen, owners of Crown Jewelers in Pittsfield, Mass., wanted to enjoy life beyond their business. When they decided to retire and close shop, they asked Wilkerson to handle the sale. As long-time Wilkerson customers, Mary says she knew the company could manage all the details of the liquidation. It was also great to have “fresh eyes” on their business, says Mary, which “worked tremendously for us.” Today, the Whalens are beginning a new adventure but are quick to commend Wilkerson for helping them get there. “You have one chance to get it right,” she says about their retirement sale. “Do it right.”

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