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852 US Jewelry Retailers Closed Their Doors in 2018

The number of closures is up from 2017’s figure.

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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.

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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.

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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.

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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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