Jewellery business discontinuances in the United States recorded an 11-percent jump in 2015 over 2014, JCK Online cited statistics from the Jewelers Board of Trade (JBT).
Figures said there were 1,082 US jewellery business discontinuances, compared to 973 in 2014. The fourth-quarter number of the two years remained the same at 238.According to the figures, there were 1,114 jewellery business discontinuances in North America in 2015, marking a 10.3 percent up over 2014.
Greater consolidation was seen in the wholesale sector than other, the report said. A total number of 143 North American jewellery wholesalers discontinued their businesses in 2015, a 27.7 percent jump over 112 in 2014. For retailers, there were 911 shops quitted in North America last year, a 12.5 percent jump over 2014. “The statistics for jewellery manufacturers showed significant improvement, however, with only 60 discontinuing their businesses, compared to 88 the prior year,” said the report.
A total of 292 new businesses entered the industry in North America in 2015, a 10.2 percent increase compared to 265 in 2014.
“Business discontinuances” is JBT’s overarching category for companies that ceased operations, consolidated through a sale or merger, or filed for bankruptcy, explained JCK Online.
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