News

Advanced Search

Jewelers Exiting U.S. Trade Soars in 1Q

May 1, 2016 10:47 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share
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
Similar Articles
Swiss Watches 150Swiss Watch Exports Still Slow to Recover
Oct 20, 2020
Swiss watch exports continued to decline in September, with China the only country to see an improvement.Total shipments
© Copyright 1978-2020 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.