The Jewelers Board of Trade reports that 852 U.S. jewelry retailers stopped doing business in 2018.
That’s slightly more than the 817 businesses that closed in 2017.
Of those, 706 fell into the category of “ceased operations,” while 122 were listed as “consolidations (sale/merger)” and 24 were classified as “bankruptcies.”
Meanwhile, 183 jewelry retail businesses opened their doors in the U.S. in 2018. That was up significantly from 131 in 2017.
Counting wholesalers and manufacturers along with retailers, 1,013 U.S. jewelry businesses closed their doors in 2018. That’s compared with 1,022 in 2017.
Advertisement
The total number of jewelry retailers listed in the U.S. is now 18,974, compared with 19,823 at the end of 2017, according to the Jewelers Board of Trade.
The total number of jewelry businesses, including wholesalers and retailers, is 25,102, compared with 26,270 at the end of 2017.
Retiring? Let Wilkerson Do the Heavy Lifting
Retirement can be a great part of life. As Nanji Singadia puts it, “I want to retire and enjoy my life. I’m 78 now and I just want to take a break.” That said, Nanji decided that the best way to move ahead was to contact the experts at Wilkerson. He chose them because he knew that closing a store is a heavy lift.
To maximize sales and move on to the next, best chapter of his life, he called Wilkerson—but not before asking his industry friends for their opinion. He found that Wilkerson was the company most recommended and says their professionalism, experience and the homework they did before the launch all helped to make his going out of business sale a success. “Wilkerson were working on the sale a month it took place,” he says. “They did a great job.”