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After more than a decade in the British capital, Almine Rech has brought the curtain down on its London operations, closing the Mayfair gallery that once served as its UK flagship. The closure follows the gallery’s decision to enter voluntary liquidation in August, shortly after hosting Gregor Hildebrandt’s solo exhibition, and is described by the gallery as a strategic restructuring rather than a financial retreat. The aim, according to the statement, was to end a lease arrangement that no longer reflected the company’s evolving direction.
Official filings in the UK indicate a £6.3 million deficit, but Almine Rech, the French gallerist behind the international enterprise, emphasized that the process was entirely controlled—with no unpaid debts to artists, staff, or suppliers. Instead, the move underscores the need for agility in a changing art landscape, where even established galleries are rethinking how and where they operate.
The London branch had opened on Savile Row in 2014, relocating to Grosvenor Hill two years later. During its tenure, it hosted major exhibitions by high-profile artists including Jeff Koons, solidifying its role in the Mayfair art district. Yet, like many peers in the city, the gallery faced the combined pressures of Brexit, post-pandemic economics, and a shifting collector base, which have reshaped the commercial dynamics of London’s art scene.
Rather than signalling a withdrawal, the closure appears to be part of a larger recalibration. Rech has confirmed that London remains important to the gallery’s outlook and that the brand’s focus will now consolidate around its eight remaining locations—two in Paris, as well as Brussels, Shanghai, Gstaad, and New York, where a sold-out show by Chloe Wise is currently drawing attention.
By closing its Mayfair space, Almine Rech demonstrates not contraction but strategic evolution, opting to refine its presence within a volatile international art market while maintaining its position as one of the world’s most influential contemporary galleries.
Courtesy Of The Artist And Almine Rech