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

Retirement Made Easy with Wilkerson

The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

Promoted Headlines

Most Popular