Facing financial woes, Simon Lee Gallery has gone into court-ordered administration:
on its door in London’s Mayfair announcing the joint administrators as Matthew Tait, Christine Francis and Danny Dartnall of BDO. Their appointment on July 11 came just one day before the gallery was due to have its second insolvency hearing this year.
“The joint administrators are working swiftly to review the available options for the company with a view to achieving the best outcome for creditors as a whole,” Tait told theadding that in the immediate term, the focus was to “safeguard the company’s assets,” including works held on consignment. “We appreciate that represented artists, and creditors more generally, will have concerns and we are in the process of collating and confirming relevant information,” he said.
Simon Lee Gallery was founded in 2002, and over the past two decades has become one of London’s most prestigious for contemporary art. In 2012, it opened a second space in Hong Kong and a third in New York in 2017, although this location was closed in 2020. It is not known whether the gallery will cease operations, or whether it plans to remain open during the administration process.
France Dernières Nouvelles, France Actualités
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