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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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Wilkerson Testimonials | Sollberger’s

Going Out of Business Is an Emotional Journey. Wilkerson Is There to Make It Easier.

Jaki Cowan, the owner of Sollberger’s in Ridgeland, MS, decided the time was right to close up shop. The experience, she says, was like going into the great unknown. There were so many questions about the way to handle the store’s going-out-of-business sale. Luckily for Cowan, Wilkerson made the transition easier and managed everything, from marketing to markdowns.

“They think of everything that you don’t have the time to think of,” she says of the Wilkerson team that was assigned to manage the sale. And it was a total success, with financial goals met by Christmas with another sale month left to go.

Wilkerson even had a plan to manage things while Covid-19 restrictions were still in place. This included limiting the number of shoppers, masking and taking temperatures upon entrance. “We did everything we could to make the staff and public feel as safe as possible.”

Does she recommend Wilkerson to other retailers thinking of retiring, liquidating or selling excess merchandise? Absolutely. “If you are considering going out of business, it’s obviously an emotional journey. But truly rest assured that you’re in good hands with Wilkerson.”

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