Mallett at 929 Madison Avenue, New York, before it closed.
Image: David Cassera of Cassera Galleries, via ARTFIXdaily.
Stamp and coin dealership Stanley Gibbons Group has begun a Chapter 11 process for its US subsidiary Mallett Inc.
The issue relates to a property on New York’s Madison Avenue that the group had leased when it was operating the Mallett furniture brand from the premises. It had bought Mallett in 2014 and, although the brand was later sold in 2018 to valuation firm Gurr Johns (which owns auction house Dreweatts), the lease and subsidiary in New York remained with the Stanley Gibbons Group.