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495 US Jewelry Retailers Closed in 2020

That’s far fewer than in 2019.

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The Jewelers Board of Trade reports that 495 U.S. jewelry retailers stopped doing business in 2020.

That’s down from 723 businesses that closed in 2019.

Of those, 381 fell into the category of “ceased operations,” while 97 were listed as “consolidations (sale/merger)” and 17 were classified as “bankruptcies.”

Meanwhile, 126 jewelry retail businesses opened their doors in the U.S. in 2020. That was down from 193 in 2019.

Counting wholesalers and manufacturers along with retailers, 605 U.S. jewelry businesses closed their doors in 2020. That’s compared with 912 in 2019.

4th Quarter

JBT reported that 74 U.S. jewelry retailers closed their doors in the fourth quarter of 2020.

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That number represented a decrease from 259 closings in the fourth quarter of 2019.

The total included 56 retailers in the category of “ceased operations” as well as 17 “consolidations (sale/merger)” and 1 bankruptcy.

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 91. That was a decrease from 316 in the fourth quarter of 2019.

Meanwhile, JBT reported that 34 new retailers opened their doors in the U.S., equal to the number that opened in the fourth quarter of 2019.

The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 40. That was down from 43 new businesses in the year-ago quarter.

JBT listed a total of 18,369 jewelry retailers in the U.S. as of the fourth quarter of 2020, down from 18,777 in the same quarter a year ago.

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The group listed 24,233 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 24,776 in the fourth quarter of 2019.

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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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