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74 US Jewelry Retailers Closed in the 2nd Quarter

The rate of closings decreased significantly.

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The Jewelers Board of Trade reported that 74 U.S. jewelry retailers closed their doors in the second quarter of 2020.

That number represented a decrease from 135 closings in the second quarter of 2019.

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The total included 56 retailers in the category of “ceased operations” as well as 12 “consolidations (sale/merger)” and six bankruptcies.

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 90. That was a decrease from 185 in the second quarter of 2019.

Meanwhile, JBT reported that 21 new retailers opened their doors in the U.S., down from 56 in the second quarter of 2019.

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The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 24. That was down from 68 new businesses in the year-ago quarter.

JBT listed a total of 18,353 jewelry retailers in the U.S. as of the second quarter of 2020, down from 19,076 in the same quarter a year ago.

The group listed 24,233 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 25,217 in the second quarter of 2019.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

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SPONSORED VIDEO

Wilkerson Testimonials | MSG Jewelers

Wilkerson Takes the Worry Out of Closing

MSG Jewelers has always treated its customers like family. When owner Mike George decided to retire and close the doors of his St. Louis, Missouri jewelry store, he selected a company to manage his going-out-of-business sale that treats its customers like family, too. That’s why he chose Wilkerson. “Wilkerson was able to do all the things that we needed,” says George. In the end, the bittersweet store closing was so much easier with Wilkerson at the helm. From marketing to pricing to inventory, Wilkerson does it all. “It’s a package deal,” says George.

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