"The international gallery Almine Rech has closed its space in London's Mayfair and put its UK business into voluntary liquidation. Filings to Companies House confirm that the London branch, recently re-registered as LG Realizations 2025, went into liquidation in August, a decision that a gallery statement says "was a technical step to restructure a lease that no longer aligned with our plans"."
"The Companies House filing puts the London gallery's deficit at £6.3m though the majority of this (£6m) relates to intercompany and shareholder loans. Almine Rech's eponymous founder tells The Art Newspaper she does not know if the outstanding amount includes money owed to the unnamed landlord. Otherwise, the statement underlines, "the gallery has no unpaid obligations to artists, employees, or suppliers"."
Almine Rech closed its Mayfair space and placed its UK business into voluntary liquidation to restructure a lease that no longer aligned with plans. Companies House filings record a £6.3m deficit, with about £6m tied to intercompany and shareholder loans; it is unclear whether landlord claims are included. The gallery has no unpaid obligations to artists, employees, or suppliers. The operation previously opened in London in 2014 and moved to Broadbent House in 2016. London remains important and a new presence is planned there. Recruitment is taking place in London. Recent commercial activity includes a successful Frieze Seoul and a sold-out Chloe Wise exhibition in Tribeca.
Read at The Art Newspaper - International art news and events
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