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

Navigating the Evolving Landscape of the American Jewelry Industry

Industry Contraction Continues, Albeit at a Milder Pace

The number of active jewelry businesses across the United States experienced a continued reduction in the third quarter of the year. However, this contraction occurred at a less rapid rate compared to the same period in the preceding year, according to the latest figures released by the Jewelers Board of Trade (JBT).

Overview of Business Activities in Q3

During the three-month interval concluding on September 30, a total of 116 jewelry enterprises ceased their operations. This figure marks a decrease from the 126 closures recorded in the corresponding quarter of 2025. Among these, 28 closures were attributed to corporate mergers or acquisitions, while the remaining 88 were due to various other factors. Notably, no bankruptcies were reported within this period. Concurrently, the formation of new businesses also saw a decline, with 67 new ventures established, compared to 89 in the prior year.

Current State of the U.S. Jewelry Sector

As of the close of the third quarter, the total count of active jewelry companies in the U.S. stood at 21,831, representing a 1.4% decline year-over-year. Retailers constituted the largest segment of this total, with 16,564 establishments, reflecting a 1.5% decrease. The wholesale segment saw a 0.9% reduction to 3,206 entities, and manufacturers experienced a 1.7% drop, totaling 2,061.

Significant Shifts in Credit Ratings

The JBT's report also indicated a substantial increase in credit rating adjustments across both the U.S. and Canada. The agency downgraded 1,655 companies during the quarter, a notable rise from 620 in the previous year. Conversely, 1,480 businesses received upgraded credit ratings, up from 551 a year ago, illustrating a period of significant financial re-evaluation within the industry.