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Jewelry Businesses Continue to Shutter

US trade has shrunk 4% since a year ago.
Apr 26, 2018 6:56 AM   By Rapaport News
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RAPAPORT... The US jewelry trade has shrunk 4% since a year ago, according to data from the Jewelers Board of Trade (JBT).

A total of 25,667 businesses were in operation in the first quarter of this year, 1,141 fewer than in the same period in 2017, the JBT said Tuesday.

During the first quarter of this year, 343 US jewelry companies closed. That included 241 retailers, 21 wholesalers and 26 manufacturers that ceased operations for reasons other than financial failure. Some 45 businesses consolidated through mergers or acquisitions, and 10 companies shut down due to bankruptcy.

By comparison, only 62 jewelry firms opened during the period, including 45 retailers, nine wholesalers and eight manufacturers.

Canada saw 25 companies close their doors for various reasons, while two new businesses emerged.
Tags: jbt, jewelers board of trade, Jewelry, Rapaport News, US jewelry trade
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