The international gallery Almine Rech has confirmed the closure of its London operation, marking the end of its presence in the capital after more than a decade. Documents filed with Companies House show the UK branch, re-registered earlier this year under the name LG Realisations 2025, went into voluntary liquidation in August. A statement from the gallery described the move as “a technical step to restructure a lease that no longer aligned with our plans”.
The filing reveals a deficit of £6.3 million, almost all of which is comprised of intercompany and shareholder loans. Asked whether this included sums owed to the landlord, founder Almine Rech told The Art Newspaper she could not confirm. The gallery, however, has emphasised that no outstanding debts remain to artists, employees, or suppliers.
The London space opened in 2014 and relocated two years later to Broadbent House in Mayfair, marked by a high-profile solo exhibition of Jeff Koons. At the time, the move was seen as a bold statement of intent in a competitive market. However, London has since proven to be a more challenging environment. Brexit and the pandemic eroded confidence in the city’s role as a hub for international collectors, while soaring rents added pressure to already thin margins.
The closure comes against a backdrop of uncertainty that has rippled through the art market. Auction houses are recording thinner consignments, and a number of dealers have chosen to reduce their London footprint. Yet Almine Rech is quick to stress that the capital remains integral to her vision. “London is so important,” she insists, suggesting that another space is on the horizon, though neither site nor schedule has been revealed. On the question of redundancies, her response was unexpectedly upbeat: “Actually, we’re hiring people” in London—a statement that suggests a repositioning rather than a retreat.
The wider network remains intact. The gallery continues to operate in Paris, New York, Brussels, Shanghai, Monaco, and Gstaad. Rech described the mood as resilient: “The world is in a strange position, but we continue positively and our clients are supportive.” The gallery reported strong sales at Frieze Seoul in September, and its current Tribeca show of hyper-real paintings by Canadian artist Chloe Wise has already sold out.
Founded in Paris in 1989 with a James Turrell exhibition, Almine Rech quickly established itself as a space for rigorous and independent programming. Early collaborations with Turrell, John McCracken, and Joseph Kosuth gave the gallery its distinctive voice, aligning it with minimal, perceptual, and conceptual practices. Expansion has been steady and deliberate, with branches in Brussels (2008), London (2014), New York (2016), and Shanghai (2019). Each new location has reinforced its international profile while maintaining Paris as the anchor.
The program today spans several generations. Established names, such as Turrell, Jeff Koons, Richard Prince, Ha Chong-Hyun, and Larry Poons, sit alongside estates including those of Pablo Picasso, Tom Wesselmann, and Günther Förg. Younger artists, including Claire Tabouret, Nathaniel Mary Quinn, Vaughn Spann, Chloe Wise, and others, extend the conversation into painting, installation, and new media.
Beyond exhibitions, the gallery participates in major fairs including Art Basel, TEFAF, and Frieze, and supports publishing through Almine Rech Editions. Catalogues and monographs produced in-house contribute to sustaining the critical record around its artists.
The London retreat is a setback but not, Rech insists, a withdrawal. “We will open something soon,” she says. For now, the Mayfair closure underscores how even established international galleries are not immune to the pressures reshaping London’s art scene.
Almine Rech Portrait by Bec Lorrimer. Courtesy Almine Rech Gallery
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