Stephen Friedman Gallery Enters Administration and Closes London Space After 30 Years

Stephen Friedman Gallery in London has closed and entered administration after three decades in business, with insolvency practitioners appointed to oversee its financial position and the winding down of operations.

In a statement issued on 4 February, the gallery said it had commenced the administration process on 2 February 2026 and appointed FRP Advisory as administrator. It said all matters are now under the administrator’s control, that the gallery is closed to the public and that it is not participating in Art Basel Qatar.

According to trade reports, the gallery’s 25 staff members are being made redundant, with lay-offs effective in early February. Artists have been advised to retrieve works held at the gallery. It remains unclear whether the gallery’s roster, reported to include around 39 artists and estates, will transfer to other dealers.

A planned solo booth at Art Basel Qatar dedicated to the late artist Huguette Caland has gone ahead under the stewardship of the Caland estate, with Lisson Gallery administering the presentation and covering stand costs, according to fair-floor reports.

Founded in Mayfair in 1995, the gallery built a programme spanning international contemporary artists including Yinka Shonibare, Kehinde Wiley, David Shrigley, Denzil Forrester, Rivane Neuenschwander, Deborah Roberts and Jaune Quick-to-See Smith. It relocated to larger Cork Street premises in 2023 and opened a New York space in Tribeca the same year, intended to support US exposure for its artists. That branch closed in late 2025, described at the time as part of a consolidation of operations in London and a renewed focus on fairs and institutional collaborations.

Company accounts cited by industry outlets show losses of approximately £1.7m in 2023, linked in part to the cost of developing new London and New York premises and overlapping lease commitments. Filings also noted tighter cash flow following slower sales in late 2024 and early 2025, and auditors flagged dependence on bank facilities and external financing as a risk to short-term stability. Most recent accounts due at the end of January have not yet been published.