Headlines

US Jewelry Retailer Closings Climb to 85 in 3rd Quarter

Meanwhile, JBT reported that 101 new retailers opened their doors.

Published

2 years ago

November 3, 2021

INSTORE Staff

The Jewelers Board of Trade reported that 85 U.S. jewelry retailers closed their doors in the third quarter of 2021.

That number represented an increase from 81 closings in the third quarter of 2020.

The total included 63 retailers in the category of “ceased operations” as well as 22 “consolidations (sale/merger).” There were no retailers in the bankruptcy category.

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 113. That was an increase from 101 in the third quarter of 2020.

Meanwhile, JBT reported that 101 new retailers opened their doors in the U.S., up from 34 in the third quarter of 2020.

The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 123. That was up from 42 new businesses in the year-ago quarter.

JBT listed a total of 18,191 jewelry retailers in the U.S. as of the third quarter of 2021, down from 18,527 in the same quarter a year ago.

The group listed 23,984 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 24,460 in the third quarter of 2020.

INSTORE Staff

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

click to Comment(Comment)

Up Next

98% of Retail Execs Say Supply Chain Issues Will Last Beyond 2022

Don't Miss

US Retailers Pull Chinese Surveillance Tech from Shelves

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”