CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
OtherMar 05, 2015
Industry sees spike in business discontinuances
The JBT’s data shows a 32 percent increase in the number of companies that exited the industry in 2014. Dione Kenyon shares several plausible explanations for the spike.
Warwick, R.I.--Aging owners lacking a next generation waiting in the wings, the falling price of gold and a slow economic recovery contributed to the increased number of jewelry business that merged with another company or simply decided to close up shop in 2014.
According to Jewelers Board of Trade data for 2014, the number of businesses that ceased operations, consolidated or went bankrupt (recorded collectively by the JBT as business discontinuances) reached 1,010 in the United States and Canada last year, a 32 percent increase from 2013.
In the U.S. alone, there were 973 business discontinuances, including 612 retail jewelers who ceased operations, a 29 percent change from the previous year.
Though it has recorded bankruptcies for years, the JBT only began tracking non-bankruptcy business discontinuances--companies that ceased operations or consolidated due to a sale or merger--in 2009, during the most recent recession.
JBT President Dione Kenyon said while the number of business discontinuances recorded last year is an increase from the past couple of years, it is not the highest she has seen in the six years the JBT has kept tabs on this category.
There were 2,077 business discontinuances in 2009 and 2,012 the following year. That number fell to 943 in 2011 and has been sliding since, until last year’s spike.
Kenyon said there are a number of reasons why so many companies in the jewelry industry are opting to close up shop now, even though they weathered the worst of the recession.
To begin with, even though the economy is recovering it is doing so slowly--the U.S. is recording only 2 to 3 percent GDP growth each year--and many simply aren’t finding it worth it to stay open.
As jewelers, manufacturers and wholesalers would attest to, and many have expressed to National Jeweler, business is difficult these days. They have to work twice as hard to produce half the results.
Jewelers, for example, have to update their marketing, their stores and their inventory and grapple with thinning margins on top of the other concerns they have confronted for years, such as the risk of robbery and commodity prices.
“Our business contains a lot more in the way of risk than your typical independent small business,” Kenyon said. “It just makes the whole question of staying open that much more challenging. This is a high-risk business.”
There’s also demographic shifts--many in the industry
are baby boomers who are nearing retirement age without a next generation waiting to take over--and the falling price of gold. For jewelers, running a store based on “we buy gold” is no longer enough to keep a business afloat.
Kenyon said all these factors are feeding into a sort of “leveling out,” a wave of contractions, though she adds that it is not “severe” when compared with what the industry witnessed in the darkest days of the recession. “It doesn’t mean the industry is going bust, but there are things that are conspiring to make it contract.”
While the number of companies that ceased operations or consolidated increased year-over-year, bankruptcies actually continued their downward slide. Bankruptcies dropped by 20 percent year-over-year in the U.S. and were down 13 percent when including Canada, JBT data shows.
The bankruptcy tally has been falling for years, Kenyon said.
Companies used to file Chapter 11 and reorganize but recovering is not as easy today. There’s less bank financing available and, as mentioned above, business is more difficult, making it hard to map out a plan for how a company is going to make a comeback. As a result, there are fewer companies filing for bankruptcies and more companies ending up in the ceased operations category.
“(Before), there was something on the other side that made it worth it to spend the money to file for bankruptcy,” she said. “Now people just sort of say, ‘Hang it up. Here’s the keys, close the doors.’”
More on Other
The Latest
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
