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Here’s How Many Jewelry Retailers Closed in 2016

The number of closures increased.

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The Jewelers Board of Trade reports that 1,269 U.S. jewelry retailers stopped doing business in 2016.

That’s an increase of 43 percent versus the number of closings in 2015.

Of those, 1,156 fell into the category of “ceased operations,” while 94 were listed as “consolidations (sale/merger)” and 19 were classified as “bankruptcies.”

Meanwhile, 214 jewelry retail businesses opened their doors in the U.S. in 2016. That number represents a 5.7 percent decrease from 2015.

Counting wholesalers and manufacturers along with retailers, 1,669 U.S. jewelry businesses closed their doors in 2016.

The total number of jewelry retailers listed in the U.S. is now 20,124, down 5.7 percent from 2015, according to the Jewelers Board of Trade. The total number of jewelry businesses, including wholesalers and retailers, is 26,725, a decrease of 6 percent.

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Downsizing? Wilkerson Is Here to Help

Orin Mazzoni, Jr., the owner of Orin Jewelers in Garden City and Northville, Michigan, decided it was time to downsize. With two locations and an eye on the future, Mazzoni asked Wilkerson to take the lead on closing the Garden City store. Mazzoni met Wilkerson’s Rick Hayes some years back, he says, and once he made up his mind to consolidate, he and Hayes “set up a timeline” for the sale. Despite the pandemic, Mazzoni says the everything went smoothly. “Many days, we had lines of people waiting to get in,” he says, adding that Wilkerson’s professionalism made it all worthwhile. “Whenever you do an event like this, you think, ‘I’ve been doing this my whole life. Do I really need to pay someone to do it for me?’ But then I realized, these guys are the pros and we need to move forward with them.”

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