Depending on who is doing the counting, it looks like about 2,000 independent retail jewelry stores closed up shop in 2016. That’s about 10% of the total nationwide, and that is just astonishing. Many of these stores were third generation businesses and long established pillars of their communities.
The unfortunate thing for the owners is that they had to close their stores, rather than being able to sell them or transfer them to the next generation or the current staff. This means that instead of getting a multiple of the store’s earnings and full value for the inventory, the owner’s had to settle for some fraction of the value of the store’s remaining stock.