SAM FRIBUSH of Berman’s Jewelers in Ellicott, MD, had worked in the business for 54 years and never thought of it as a job — until recently.
“I was taking the long way to work, driving slow, and when I start doing that, the writing’s on the wall,” he told the Baltimore Sun.
He knew it was time to retire.
Berman’s was one of 58 jewelry businesses that the Jewelers Board of Trade listed among industry discontinuances and consolidations for June. INSTORE has partnered with JBT to provide a closer look at closings in the jewelry industry via monthly reports that lists closed stores by name. (Note: JBT explains that “consolidation,” as used below, can mean a merger between two affiliate [same owners] companies that had separate corporate charters or the sale of a company to a new owner.)
Evolving consumer habits, the rising popularity of e-commerce and other trends have contributed to jewelry-store closings in recent years. JBT reported earlier this month that 195 U.S. jewelry retailers closed their doors in the second quarter of 2018. That number represented no change from the number of closings in the second quarter of 2017.
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In sunnier news, JBT reported that 63 new retailers opened their doors in the U.S. in the second quarter of 2018, up from 22 in the same quarter a year prior.
Fribush, for one, said his customer base had decreased over the past decade, with younger customers increasingly purchasing online — or not at all.
In the case of another store owner on the list, however, the decision to shut down was less about consumer trends and more about a specific calamity. The owner, who spoke on condition of anonymity, said a bookkeeper defrauded the business of between $100,000 and $400,000.
He couldn’t sustain the loss, so he closed the store. He’s awaiting — or at least hoping for — an indictment of the former employee.
He’s now starting a smaller, appointment-only jewelry business.
“It’s a real challenge to start over after all these years,” he said.
(Editor’s comment: This monthly department is designed to share the many lessons — and many motivations — of jewelers who have decided not to continue with their retail business. The goal is not to inspire fear, but rather to inspire action for jewelers who are looking for ways to thrive in what can be a challenging retail environment.)
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Week of June 1
V V S D Jewelers, Inc., d/b/a Fast Fix Jewelry & Watch Repairs, Palmdale, CA, consolidation
Phillips Jewelry, Mapleton, IA, discontinuance
Jewelers Workbench And Watch Repair, North Attleboro, MA, consolidation
Anderson, James L. Jeweler, Inc., d/b/a Morgan’s Jewelers, Winona, MN consolidation
Imam Management Inc., d/b/a Carolina Jewelers, Pineville, NC, consolidation
Watertown Gold and Trade LLC, Watertown, WI, consolidation
Chatelaine’s Ltd., Lewes, DE, discontinuance
Gregory James Jewelry, LLC, Palm Beach, FL, discontinuance
Christopher Charles Fine Jewelry Corp., Haddon Township, NJ, discontinuance
Eugene P, Inc., d/b/a 24 Diamonds, New York, NY, discontinuance
Mastercraft Jewelers, Dewey, OK, discontinuance
Carly M. Fine Jewelry, LLC, Sewickley, PA, discontinuance
Stoeckel, George R. Jewelers, Stroudsburg, PA, discontinuance
Week of June 8
Precious Jewelry, Inc., Miami, FL, consolidation
Adrene Jewelers, South Yarmouth, MA, consolidation
J.L.C. Jewelers Ltd., d/b/a Cellini Jewelers, New York, NY, consolidation
Lester Martin Jewelers, Inc., d/b/a Lester Martin Co., Dresher, PA, discontinuance
Classic Estate Jewelry, LLC, Lancaster, PA, consolidation
Root’s Rocks, Inc., d/b/a C. Kirk Root Designs, Austin, TX, consolidation
Jewels By G. Darrell Olson, Inc., d/b/a Jewels & Estate Gallery, Phoenix, AZ, discontinuance
Strausberg Bros Inc., d/b/a Strausberg Bros USA, San Diego, CA, discontinuance
Time Sales, Inc., d/b/a Tourneau TSS, Cabazon, CA, discontinuance
Henry Diamond Co., Los Angeles, CA, discontinuance
Childs, Ashley, Los Angeles, CA, discontinuance
DS Jewelry, Port Richey, FL, discontinuance
Chicago Diamond Industries, (Inc.), d/b/a C. D. I., Chicago, IL, discontinuance
Christopher Allan Jeweler LLC, South Bend, IN, discontinuance
Queena Jewelers, LLC, d/b/a Queena Jewelers Mfg Co., Novi, MI, discontinuance
Nick’s, West Plains, MO, discontinuance
Skillin’s Jewelers, Inc., Norwich, NY, discontinuance
Barato Trading Corporation, d/b/a Barato Watches, New York, NY, discontinuance
Sam Taylor Fine Jewelry LLC, Ashland, OH, discontinuance
Week of June 15
David Anthony Jewelry Inc., New Lenox, IL, consolidation
Lawrence Jewelers, Inc., Fort Gratiot, MI, consolidation
Euphoria New York, L.L.C., Englewood, NJ, consolidation
Shun Xing Fine Jewelry Inc., New York, NY, consolidation
U.S. Capital Corporation, d/b/a Retail Store Services, Hollywood, FL, discontinuance
Little King’s Jewelry, Beecher, IL, discontinuance
It’s About Time Flamingo, (LLC), Las Vegas, NV, discontinuance
Digital World, (LLC), Las Vegas, NV, discontinuance
Sterling Possessions LLC, d/b/a Thistle & Bee, New York, NY, discontinuance
Nick’s Pawn & Jewelry, L.L.C., Lawton, OK, discontinuance
Lee, Jerry D., Inc d/b/a Ye Olde Clock Shop, League City, TX, discontinuance
Week of June 22
Roman Jewelers, Inc., Flemington, NJ, consolidation
Aqua Master Enterprise Inc., New York, NY, consolidation
H.J.C. (Inc.), d/b/a Arkansas Cash For Gold, Maumelle, AR, discontinuance
Special Sales Company, d/b/a Berman’s Jewelers, Ellicott City, MD, discontinuance
Belle Jewelers LLC, Egg Harbor Township, NJ, discontinuance
Ava Accessories LLC, d/b/a Ava Sterling, Albuquerque, NM, discontinuance
Gold Rush Jewelers, Trotwood, OH, discontinuance
Jane’s, Inc., d/b/a Jane’s Fine Jewelry, Chattanooga, TN, discontinuance
Gold Creations, Inc., d/b/a Fulwiler Jewelers, Abilene, TX, discontinuance
Wendell Setterberg, Inc., d/b/a Setterberg Jewelers, Sun City, AZ, consolidation
O’Halloran Manufacturing Jewelry Co., Ltd, Baton Rogue, LA, consolidation
Bulova (Division of Citizen Watch Company of America, Inc.), New York, NY, consolidation
Luca + Danni, LLC, Cranston, RI, consolidation
Forbes Jewelers, Wadesboro, NC, discontinuance
Nippert Jewelers, LLC, Cincinnati, OH, discontinuance
