[ad_1]
Simon Lee Gallery, one in all London’s prime modern artwork galleries, on July 11 went into court-ordered joint administration with enterprise advisory agency BDO LPP. The administration—which a restricted firm enters when it’s bancrupt and may’t pay collectors—was ordered on the again of a petition from Barclays Financial institution. The Artwork Newspaper in June reported that the gallery had been struggling financially over a tax dispute and was going through dissolution. At the moment, gallery founder Simon Lee described the problem as “resolved” and expressed confidence that the insolvency listening to scheduled for July 12—its second so far—could be dismissed.
BDO director Matthew Tait, who alongside colleagues Christine Francis and Danny Dartnall is likely one of the three named joint directors, instructed The Artwork Newspaper that the trio have been “working swiftly to overview the obtainable choices for the corporate with a view to attaining the most effective consequence for collectors as a complete, in step with their duties. Within the quick time period, our focus is to safeguard the corporate’s belongings, together with works held on consignment. We respect that represented artists, and collectors extra usually, could have considerations and we’re within the technique of collating and confirming related info.” The purpose of the directors is to maintain the gallery in enterprise. Among the many measures obtainable to them are restructuring, promoting off belongings and reducing bills. Whether or not the gallery will stay in operation through the proceedings is unknown.
Simon Lee Gallery launched in London in 2002, opening a Hong Kong department in 2012 and a New York outpost in 2017. The New York operation shuttered in 2020. Among the many artists it represents are George Rental, Hans Hartung, Mai-Thu Perret, and Christopher Wool. Golden Lion winner Sonia Boyce parted methods with Simon Lee final month, having been with the gallery solely two years.
[ad_2]
