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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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Thinking of Liquidating? Wilkerson’s Got You Covered

Bil Holehan, the manager of Julianna’s Fine Jewelry in Corte Madera, Calif., decided to go on to the next chapter of his life when the store’s owner and namesake told him she was set to retire. Before they left, Holehan says they decided to liquidate some of the store’s aging inventory. They chose Wilkerson for the sale. Why? “Friends had done their sales with Wilkerson and they were very satisfied,” says Holehan. He’d enthusiastically recommend Wilkerson to anyone looking to stage a liquidation or going-out-of-business sale. “There were no surprises,” he says. “They were very professional in their assessment of our store, what we could expect from the sale and they were very detailed in their projections. They were pretty much on the money.”

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