Marlborough Gallery Closes All Locations After 80 Years

Marlborough Gallery, a legendary contemporary art dealership founded in London in 1946 by Frank Lloyd and Harry Fischer, is closing all its galleries in New York, London, Madrid, and Barcelona as of June. The closure follows years of management issues, financial difficulties, and a family feud that led to a 35% drop in revenue at the London gallery, from £11.7 million to £7.7 million in 2022. Gross profit fell 24% after three directors and a major artist (possibly Paula Rego) left. The company will sell off its inventory of over 15,000 works valued at around $250 million, with a portion of proceeds going to non-profit institutions supporting artists. Over 50 employees are being laid off, with some staying temporarily to handle returns and sales. The parent company, Marlborough International Fine Art Company (based in the Bahamas and owned by trusts in South Dakota), lent the London entity £1.5 million. The gallery also owns numerous properties in Europe and the US to be sold. Originally representing post-war British artists like Francis Bacon, Henry Moore, Lucian Freud, Frank Auerbach, and Barbara Hepworth, it later added Abstract Expressionists such as Robert Motherwell, Richard Diebenkorn, Clyfford Still, Jackson Pollock, and Ad Reinhardt.