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US Jewelry Retailer Closings Climb to 119 in 2nd Quarter

But the number of new jewelry businesses also rose.

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The Jewelers Board of Trade reported that 119 U.S. jewelry retailers closed their doors in the second quarter of 2021.

That number represented an increase from 74 closings in the second quarter of 2020.

The total included 97 retailers in the category of “ceased operations” as well as 22 “consolidations (sale/merger).”

The total number of U.S. jewelry businesses that closed, including retailers, wholesalers and manufacturers, was 143. That was an increase from 90 in the second quarter of 2020.

Meanwhile, JBT reported that 36 new retailers opened their doors in the U.S., up from 21 in the second quarter of 2020.

The total number of new jewelry businesses, including retailers, wholesalers and manufacturers, was 41. That was up from 24 new businesses in the year-ago quarter.

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JBT listed a total of 18,196 jewelry retailers in the U.S. as of the second quarter of 2021, down from 18,529 in the same quarter a year ago.

The group listed 24,021 jewelry businesses in all, including retailers, wholesalers and manufacturers. That was down from 24,465 in the second quarter of 2020.

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When the Kids Have Their Own Careers, Wilkerson Can Help You to Retire

Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

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