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Jewelry Business Closures Accelerate in 2Q

Aug 8, 2016 2:44 AM   By Rapaport News
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RAPAPORT... Jewelry business closures in North America surged 89 percent in the second quarter, extending a trend of an increasing number of firms quitting the trade.

Some 475 companies in the U.S. and Canada shuttered in the three months to June 30, according to data compiled by the Jewelers Board of Trade. Of these, 21 closures occurred via sales or mergers, 12 were bankruptcies and 442 closed for other reasons.

Most business closures were in the U.S., where terminations soared 88 percent to 460.

The latest figures come after data for the first quarter showed a 33-percent jump in exits in North America to 392 and a 35-percent surge in U.S. closures to 380 companies.

During the first six months, business closures climbed 59 percent to 867 in North America, while in the U.S. cessations soared 60 percent to 840.
Tags: business closures, Canada, jbt, jewelers board of trade, Jewelry, North America, Rapaport News, u.s.
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