The Jewelers Board of Trade (JBT) has reported a slowdown in the rate of U.S. jewelry business closures during the second quarter of 2025.
A total of 174 businesses ceased operations between April and June, down 23% from the same period in 2024. The number of active jewelry companies in the U.S. stood at 22,218 at the end of the quarter.
Business Activity Overview
Of the 174 closures, 28 resulted from mergers or acquisitions, three were due to bankruptcies, and 143 closed for other reasons.
In the same period, 97 new jewelry businesses were registered, up from 83 in the second quarter of 2024. The industry recorded a net loss of 112 businesses compared to the previous quarter.
Breakdown by Sector
Retailers made up the majority of the market with 16,873 businesses, a 3% decrease year over year. The number of wholesalers fell 2.6% to 3,241, while manufacturers declined 4.7% to 2,104. Manufacturing experienced the largest percentage decrease of the three segments tracked.
Credit Rating Changes
The JBT reported adjustments to company credit ratings during the quarter. A total of 561 businesses across the U.S. and Canada were downgraded, compared with 633 in the same quarter of 2024. Meanwhile, 639 businesses received credit rating upgrades, and 663 were upgraded between April and June.
