Connect with us

Headlines

81 US Jewelry Retailers Closed in the 3rd Quarter

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

mm

Published

on

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.

Advertisement

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.

Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Downsizing? Wilkerson Is Here to Help

Orin Mazzoni, Jr., the owner of Orin Jewelers in Garden City and Northville, Michigan, decided it was time to downsize. With two locations and an eye on the future, Mazzoni asked Wilkerson to take the lead on closing the Garden City store. Mazzoni met Wilkerson’s Rick Hayes some years back, he says, and once he made up his mind to consolidate, he and Hayes “set up a timeline” for the sale. Despite the pandemic, Mazzoni says the everything went smoothly. “Many days, we had lines of people waiting to get in,” he says, adding that Wilkerson’s professionalism made it all worthwhile. “Whenever you do an event like this, you think, ‘I’ve been doing this my whole life. Do I really need to pay someone to do it for me?’ But then I realized, these guys are the pros and we need to move forward with them.”

Promoted Headlines

Most Popular