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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.
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Tags:
bankruptcy, financial, jbt, jewelers board of trade, Rapaport News, U.S
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