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Jewelers Exiting U.S. Trade Soars in 1Q

May 1, 2016 10:47 AM   By Rapaport News
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RAPAPORT... U.S. jewelry business discontinuances surged 35 percent in the first quarter, according to data released by the Jewelers Board of Trade (JBT).

Of the 380 companies that left the industry, the maximum number was in the “ceased-operations” category, which is defined as companies closing down business for reasons other than financial difficulty or consolidation. The number of such closures soared 34 percent to 323, data showed.

Consolidations – encompassing sales and mergers of jewelry businesses – more than doubled to 53, outweighing a 75-percent drop in bankruptcies to four. The number of new entrants to the industry dropped 12 percent to 73.
Tags: bankruptcy, financial, jbt, jewelers board of trade, Rapaport News, U.S
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