Multiple Prominent Galleries Close or Downsize Operations Throughout 2025

A significant contraction swept through the commercial gallery sector in 2025, with several established spaces announcing closures or operational reductions. Sperone Westwater, a New York institution founded in 1975, revealed plans to close its Bowery location by year's end. In October, Almine Rech decided to shutter its London gallery and liquidate its UK entity to escape a burdensome lease. August saw the closure of Clearing's New York and Los Angeles locations after 14 years, alongside Tanya Bonakdar Gallery ending its seven-year Hollywood presence by not renewing its lease. Tim Blum announced the winding down of his namesake gallery, closing spaces in Los Angeles and Tokyo while abandoning a planned Tribeca expansion and laying off most staff. Venus Over Manhattan, founded by Adam Lindemann, also ceased operations after 13 years. These closures, affecting mid- to large-scale galleries, began accumulating from July onward, marking a period of industry retrenchment.