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81 US Jewelry Retailers Closed in the 3rd Quarter

The number is down significantly from the same quarter a year ago.

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The Jewelers Board of Trade reported that 81 U.S. jewelry retailers closed their doors in the third quarter of 2020.

That number represented a decrease from 229 closings in the third quarter of 2019.

The total included 46 retailers in the category of “ceased operations” as well as 30 “consolidations (sale/merger)” and five bankruptcies.

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 101. That was a decrease from 286 in the third quarter of 2019.

Meanwhile, JBT reported that 34 new retailers opened their doors in the U.S., down from 92 in the third quarter of 2019.

The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 42. That was down from 61 new businesses in the year-ago quarter.

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JBT listed a total of 18,375 jewelry retailers in the U.S. as of the third quarter of 2020, down from 18,952 in the same quarter a year ago.

The group listed 24,258 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 25,021 in the third 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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