Commercial art gallery closes after 15 years

A commercial contemporary art gallery in central London has closed due to "mounting debts" made worse by Brexit, inflation and a drop in sales.

FOLD, which was founded 15 years ago by Kim Savage, has gone into voluntary liquidation and all future exhibitions have been cancelled.

Savage said that "mounting historic debts, the fallout from the pandemic lockdowns, Brexit, inflation and a general downturn in sales" had resulted in the "sudden decision" to close the gallery.

FOLD was initially a project space in Hackney, east London when it first launched in 2008.

The gallery moved to Clerkenwell and then Fitzrovia eight years ago.

Savage added: "I am deeply saddened to make this announcement and really have tried my utmost to avoid this and to make it work, but I am afraid now the tank is empty".