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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