Pace Plans to Give Up 8,600-Square-Foot London Gallery as It Continues to Cut Costs
Pace Gallery has listed its 8,600-square-foot London space in Hanover Square for rent and plans to move to a smaller, “less corporate” location, CEO Marc Glimcher told the Financial Times. The London gallery opened in fall 2021 in a two-level space renovated by Jamie Fobert Architects and launched with a performance by Torkwase Dyson, a move then seen as competing with other mega-galleries such as Gagosian and David Zwirner. The downsizing follows Pace’s announcement that it is cutting about 50 jobs and dropping around 50 artists, with staff and artists reporting uncertainty about who will be affected. Glimcher described the current gallery model as “not only broken” but “unfixable,” while critics and an anonymous dropped artist questioned the decision to drop artists rather than reduce Pace’s global footprint.
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This story was covered in Museums Under Fire, Galleries on the Brink