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london stephen friedman gallery abruptly closes insolvency 1234772248

Stephen Friedman Gallery, a fixture of London’s Mayfair district since 1995, has abruptly entered administration and closed its doors to the public. The gallery confirmed the insolvency process following its last-minute withdrawal from the inaugural Art Basel Qatar. Approximately 25 employees are expected to be laid off, and represented artists have been advised to retrieve their works immediately as the firm undergoes a financial review by FRP Advisory.

article news schedule Nov 19, 2025 visibility 3 link 1 artist

palm springs art museum refutes report finances 1234762343

A Los Angeles Times investigation has raised serious concerns about the financial management of the Palm Springs Art Museum, alleging significant accounting issues including improper reporting of endowment spending, inaccurate recording of donated and deaccessioned art values, and faulty admissions revenue tracking. The museum has publicly refuted these claims, asserting that its financial reviews have been thorough and that the Times' reporting relies on selective internal correspondence. The report notes that at least eight trustees have resigned, leaving the board short of its required 20 members, with one former trustee citing legal counsel for his departure and recommending the museum hire a forensic accounting firm.

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