U.S. Jewelry Business Closures Slow in Q3, JBT Reports

The number of active U.S. jewelry businesses kept shrinking in the third quarter, though at a slower pace than a year ago, according to new data from the Jewelers Board of Trade (JBT).

A total of 116 jewelry firms went out of business in the three months ended Sept. 30, down from 126 in the same period of 2025, the credit-reporting agency said Wednesday, according to Rapaport. Of those, 28 closed because of mergers or takeovers and 88 for other reasons. None were bankruptcies.

Fewer new businesses opened, too: 67, compared with 89 a year earlier.

At the end of the quarter, 21,831 jewelry companies were active in the U.S., down 1.4% year over year. Retailers made up most of that total at 16,564, a 1.5% decline. Wholesalers fell 0.9% to 3,206, and manufacturers dropped 1.7% to 2,061.

JBT also reported a sharp increase in credit rating changes across the U.S. and Canada. It downgraded 1,655 companies during the quarter, up from 620 a year ago, and upgraded 1,480, up from 551.