SurveysJul 01, 2026
Consumer Confidence Ticks Up in JuneFalling oil prices were a factor in the slight month-over-month improvement.
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
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
IndependentsJul 01, 2026
Kristen Cannon of Valobra Master Jewelers Dies at 49The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesJun 30, 2026
Pokémon Fans Will Want to Catch This New G-Shock WatchThe new watch commemorates Pokémon’s 30th anniversary.
MajorsJun 30, 2026
Saks Global Emerges From Bankruptcy With New NameThe luxury retailer is now called Exemplar Luxury Group.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
CollectionsJun 30, 2026
Jade Ruzzo’s New Collection Embodies the Art of Being a LadyThe “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.
SourcingJun 30, 2026
Blue Nile Introduces Montana Sapphire CollectionThe new line is included in the e-tailer’s curation of jewelry celebrating America’s 250th anniversary.
GradingJun 30, 2026
AGS Opens 2026 Recertification ExamAll active members who earned their credential or designation before Dec. 1, 2025, are required to recertify.
CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
SourcingJun 25, 2026
ICA Names Brandee Dallow as CEODallow will lead the International Colored Gemstone Association, effective July 6.
EditorsJun 25, 2026
Out & About: How Jewelers Mutual, SCAD Are Tackling the Bench Jeweler ShortageSenior Editor Lenore Fedow headed to Savannah to learn more about the 10-year, $10 million partnership between JM and the art school.
CollectionsJun 25, 2026
Mejuri Experiments With SteelIts new capsule jewelry collection features gold-finished stainless steel pieces designed for a maximalist look without a luxury price tag.
Events & AwardsJun 25, 2026
Watches & Wonders Announces 2027 DatesThe week-long event in Geneva is slated for April 2027.
SourcingJun 25, 2026
Annie Doresca, Mark Smelzer, Sara Yood Join Gem Legacy BoardThe three industry leaders bring financial, communications, and legal expertise to the nonprofit’s board of directors.
ColumnistsJun 24, 2026
The Revenue Hiding Between Your Counter and Your Online CartJewelers are missing out by not offering this one key add-on at the online point of sale, Emmanuel Raheb writes.
CollectionsJun 24, 2026
Greenwich St. Jewelers, Jewel Boxing’s Latest Drop Is On-TrendThe fourth collaborative collection from the retailer and jewelry content creator focuses on gemstone charms and strands of colorful beads.
Events & AwardsJun 24, 2026
AGTA Accepting Entries for Spectrum 2026This year’s AGTA Spectrum & Cutting Edge Awards will feature two new categories.
