"The visibility generated by those short-term projects contrasted with The Hole's long-term space in West Hollywood, which remained inactive during Los Angeles's art week. It has now permanently closed; its final exhibition, devoted to the late Nicholas Hondrogen, came down in September 2025."
"As interviews with artists, former employees and the gallery's founder illustrate, The Hole has suffered from a pattern seen at many other galleries that expanded to larger spaces and additional cities as new buyers spent lavishly in the art market from 2021 to 2023."
"When those buyers disappeared, dealers who had banked on their continued patronage to expand were suddenly left exposed. Many galleries have shrunk or closed in the aftermath; in the case of The Hole, the fallout has resulted in late payments to artists and workers, unpaid rent and a shuttered Los Angeles location."
Los Angeles's art week in February is a key event in the international art calendar, showcasing numerous exhibitions and events. The Hole participated prominently, featuring over a dozen artists at the Felix Art Fair. A notable pop-up exhibition, 99CENT, co-organized by The Hole and Jeffrey Deitch, attracted large crowds. However, The Hole's long-term space in West Hollywood has permanently closed due to financial struggles, reflecting a broader trend of galleries facing challenges after a period of rapid expansion and subsequent market decline.
Read at The Art Newspaper - International art news and events
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