LOCALS are mourning the loss of a historic jewelry store after the owners announced they were being forced out of business.
For years, many small businesses have been fighting a losing battle against hypermarkets and online retailers who can offer a wider range of products at lower prices.
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Now a jewelry store in Madisonville, Kentucky – about 100 miles northwest of Nashville, Tennessee – has succumbed to pressure and announced that it will close permanently this year.
“It is with heavy hearts that we announce that Clements Jewelers will be CLOSING,” the store owners wrote in a Facebook post on Friday.
“After 89 years, we have tried our best, but it is no longer possible to compete with larger retailers and online shopping.”
The company reportedly opened in 1935 and survived the economic downturn of World War II and several other difficult Periods – until now.
“We have seen a massive decline in community shopping in recent years because we have not been able to compete with larger retailers on price,” the owners said.
“Repair costs have increased by 60 percent over the past four years, which was inevitable,” they added.
“While we love our community and have enjoyed every moment, we must do what is best for our families and employees.”
ALREADY MISSED
Fans of Clements Jewelers were sad to hear News.
“That sounds awful to me. That’s the only place my jewelry has come from for the last 35 years,” Glenda Hart commented on Facebook.
“My husband will never find anyone else to help him surprise me the way you and your staff did. We will miss you very much. Thank you for all these years.”
“I understand, but it is hard to lose a pillar of the community. Clements was more than jewelry, it was Family,” wrote Paul Summers.
“So sad to hear this for all of you and for our community. I have so many special memories of shopping there with my dad. You did an outstanding job! I’m glad you will continue to offer lasting jewelry!” added Candance McPherson.
NOW ON OFFER
But Clements Jewelers has another surprise in store for loyal customers.
They will be having a super sale on remaining stock before closing the store for good.
“Starting today, we are offering a store sale with 35% off,” they announced.
“We will also be selling decorations, home furnishings, wrapping paper, office supplies, etc., so please keep your eyes peeled and we ask that you continue to support us until the end!”
THE END IN SIGHT
The final closing date of Clements Jewelers has not yet been determined.
“We don’t have an official completion date yet, but we expect it to be the end of September,” the owners wrote.
Increase in store closures in 2024
In 2024, thousands of stores will close forever – and there is no sign of this trend slowing down.
At least 3,200 brick-and-mortar stores have already been permanently closed in the first seven months of the year.
According to retail industry experts, this represents an increase of 24% compared to the previous year.
Companies cite changing preferences and shopping habits of buyers as reasons for these changes.
Some national chains like CVS and Dollar General have closed hundreds of stores in recent months.
“Many of this year’s closures are related to the bankruptcies of chains that have been in trouble for some time, like Rite Aid and Rue21,” Neil Saunders, managing director of GlobalData, told CBS News.
“We are also seeing several retailers, such as Family Dollar, taking steps to weed out poorly performing locations.”
Fans of the jeweler can continue to purchase unique ornaments at the store’s Permanent Jewelry pop-up store.
“Our Permanent Jewelry location will continue to operate as usual and will NOT be CLOSED!” they wrote.
“We have many events planned in Future and we look forward to continuing to serve our community in this way!
However, customers who want to have jewelry they have already purchased repaired are out of luck.
“We would like to add that we will not be accepting repairs/providing appraisals during our closure!”
To demonstrate their dedication to their customers, the owners recommended nearby shops where they could next dazzling purchases.
“We recommend checking out other jewelers nearby, such as Huddleston’s Jewel Gallery and Draustes in Evansville.”
