{"id":471620,"date":"2025-10-03T17:29:11","date_gmt":"2025-10-03T17:29:11","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/471620\/"},"modified":"2025-10-03T17:29:11","modified_gmt":"2025-10-03T17:29:11","slug":"almine-rech-shuts-london-gallery-and-puts-uk-business-into-liquidation-the-art-newspaper","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/471620\/","title":{"rendered":"Almine Rech shuts London gallery and puts UK business into liquidation &#8211; The Art Newspaper"},"content":{"rendered":"<p class=\"pt-dp-p font-text-light font-light text-lg leading-normal tracking-wide mb-base last:mb-0\" itemprop=\"text\">The international gallery Almine Rech has closed its space in London\u2019s 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 \u201cwas a technical step to restructure a lease that no longer aligned with our plans\u201d.<\/p>\n<p class=\"pt-dp-p font-text-light font-light text-lg leading-normal tracking-wide mb-base last:mb-0\" itemprop=\"text\">The Companies House filing puts the London gallery\u2019s deficit at \u00a36.3m though the majority of this (\u00a36m) relates to intercompany and shareholder loans. Almine Rech&#8217;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, &#8220;the gallery has no unpaid obligations to artists, employees, or suppliers&#8221;.<\/p>\n<p class=\"pt-dp-p font-text-light font-light text-lg leading-normal tracking-wide mb-base last:mb-0\" itemprop=\"text\">Rech, who runs galleries in New York, Paris, Brussels, Shanghai, Monaco and Gstaad, opened in London in 2014, moving to the Broadbent House space in 2016 to great fanfare with a solo show of Jeff Koons.<\/p>\n<p class=\"pt-dp-p font-text-light font-light text-lg leading-normal tracking-wide mb-base last:mb-0\" itemprop=\"text\">Since then, London\u2019s galleries and auction houses have suffered from the <a class=\"transition-all duration-default shadow-internalLink hover:text-red-1\" href=\"https:\/\/www.theartnewspaper.com\/2023\/01\/31\/plunging-arts-exports-cancelled-fairs-and-increased-regulation-how-brexit-is-endangering-the-uk-art-market-three-years-on\" target=\"_blank\" rel=\"noopener\">effects of Brexit<\/a> and the Covid-19 pandemic, and Rech\u2019s closure this summer coincides with a nervous time in the art market. London nonetheless remains \u201cso important\u201d she says, adding that \u201cwe will open something [there] soon,\u201d though she does not give further details. When asked if any redundancies have been made, Rech answered \u201cactually, we\u2019re hiring people\u201d in London.<\/p>\n<p class=\"pt-dp-p font-text-light font-light text-lg leading-normal tracking-wide mb-base last:mb-0\" itemprop=\"text\">Rech acknowledges that \u201cthe world is in a strange position\u201d but says \u201cwe continue positively and our clients are supportive\u201d. She reports a successful Frieze Seoul in early September and says that the gallery\u2019s current exhibition of hyper-real paintings by the Canada-born Chloe Wise, which opened in Tribeca mid-month, \u201cis already sold out\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"The international gallery Almine Rech has closed its space in London\u2019s Mayfair and put its UK business into&hellip;\n","protected":false},"author":2,"featured_media":471621,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7757],"tags":[66110,9929,748,91633,68838,393,4884,257,16,15],"class_list":{"0":"post-471620","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-london","8":"tag-almine-rech","9":"tag-art-market","10":"tag-britain","11":"tag-closures","12":"tag-commercial-galleries","13":"tag-england","14":"tag-great-britain","15":"tag-london","16":"tag-uk","17":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115311421889856886","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/471620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=471620"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/471620\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/471621"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=471620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=471620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=471620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}