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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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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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