Overdue payments to artists, landlords and workers at a popular gallery reflect pressures squeezing the dealer sector

The Hole, a gallery founded in 2010 by Kathy Grayson, has permanently closed its West Hollywood space after a period of late payments to artists and workers, unpaid rent, and broader financial strain linked to a post-2021–2023 market slowdown. During Los Angeles art week in February, the gallery maintained high visibility through a Felix Art Fair presentation featuring artists including Dan Attoe and Monica Kim Garza, and through 99CENT, a crowded pop-up co-organized with Jeffrey Deitch that showcased works by Barry McGee and more than 100 associates in a former dollar store on Wilshire Boulevard. In contrast, the Los Angeles gallery space was inactive and ultimately shuttered; its final exhibition, devoted to the late Nicholas Hondrogen, ended in September 2025. Court records indicate that between July and September 2025, landlords for The Hole’s two Manhattan properties filed non-payment complaints, including claims of more than $120,000 in unpaid rent for the Tribeca location, illustrating pressures affecting galleries that expanded during the boom years.

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