Almine Rech, the renowned contemporary art gallery founded in Paris, has announced the closure of its London location in Mayfair after more than 10 years of operation. The news was first reported by Melanie Gerlis in The Art Newspaper on Friday.

The London branch, which hosted exhibitions by acclaimed artists such as Jeff Koons, Javier Calleja, Esther Mahlangu, and Chloe Wise, has played a significant role in the gallery’s international expansion.

Financial Restructuring and Future Plans

According to The Art Newspaper, official filings show the London gallery branch has entered liquidation with a reported £6.3 million deficit, as per documents filed with the UK’s Companies House.

Despite the filing, Almine Rech, the gallery’s founder, emphasized that no debts are owed to artists, employees, or suppliers. She described the liquidation as a “technical step” necessary to restructure a lease that no longer fits the gallery’s future vision in the city.

Rech confirmed that London remains an important hub for the gallery’s operations and hinted at plans to reopen a new space in the city eventually, though no timeline or location has been disclosed.

Gallery’s International Presence

Founded in 1997 in Paris, the Almine Rech Gallery has grown into a global institution with locations in Paris, Brussels, New York, Shanghai, and now, formerly, London. The gallery is known for representing leading contemporary artists and curating bold, conceptually rich exhibitions.

As the art world continues to adapt to economic shifts and changing market dynamics, Almine Rech’s strategic restructuring suggests a focus on long-term sustainability and repositioning within the global art scene.