When does a trickle become a flood? The recent wave of gallery closures has claimed another victim with New York's Clearing gallery announcing it is shutting up shop.
The gallery, which is also closing its site in Los Angeles, promoted artists including Korakrit Arunanondchai during its 14 years in business. It closed after final shows by Coco Young and Henry Curchod in New York and Los Angeles, respectively.
Only two months ago, it took over a villa during the Art Basel fair to host a group exhibition which it described as "departing from the traditional art fair model" and paying homage to the gallery’s ethos of playful curiosity and dedication to highlighting young and emerging artists".
Founder Olivier Babin said in a statement on Instagram it had not been "an easy decision" to make. He said: "Until the very end, we hoped to turn the corner. But with no viable path forward, we are closing today because we can no longer operate at the standards we’ve always held ourselves to — for our artists, our teams, and our entire community."
It follows the recent closure of New York's Venus Over Manhattan and Tim Blum's eponymous galleries in Los Angeles and Tokyo. Kasmin gallery also recently announced it was to shut though two senior staff members are launching a new business built on its bones.