Jewelry Business Closures Decline in First Quarter

The Jewelers Board of Trade (JBT) reported a deceleration in the US jewelry industry’s downsizing rate during the first quarter. The data indicates a decrease in company exits compared to the same period last year.

The JBT’s latest report, released Monday, details the shifts within the US jewelry sector.

Company Exits and New Businesses

During the first quarter, which concluded March 31, 159 companies ceased operations. This figure represents a decrease from the 212 companies that exited the industry in the first quarter of the previous year. At the end of the quarter, 21,949 companies were active in the US jewelry industry, a 2.4% reduction compared to the same period in 2025.

Of the businesses that discontinued operations, 20 were involved in mergers or takeovers, six declared bankruptcy, and 133 closed for other reasons. The number of new businesses entering the sector decreased to 87, down from 90 in the first quarter of 2025.

Sector Breakdown

Retailers remain the largest segment of the industry, with 16,667 businesses active, representing a 2.4% year-over-year decline. Wholesalers decreased by 1.7% to 3,216, and the manufacturing industry contracted by 3.1% to 2,066 businesses.

Credit Rating Adjustments

The JBT, which provides credit information for the jewelry trade, downgraded the credit ratings of 565 companies in the US and Canada during the quarter. This is a decrease from the 707 downgrades recorded in the first three months of 2025. Conversely, the JBT raised the credit scores of 595 businesses, compared to 662 during the same period last year.