A major art and antiques dealer in London was placed into administration this week
. Partridge Fine Art
has been in business over 100 years. It was set up in 1902 to buy antiques for Queen Mary and sold to private clients and designers as well as institutions such as the Metropolitan Museum of Art, the British Museum and the J Paul Getty Museum. The Allied Irish Bank is the main creditor to the company. Andrew Stoneman and Matt Bond, partners in MCR, have been appointed joint administrators and business is going on as usual at the dealership's posh four-story townhouse on Bond Street. Princess Michael of Kent is the firm's president but it is unknown as of yet if she will stay on the payroll.
It is suspected that the economy is the culprit as usual but no official reason has been given. The administrators are focusing on saving the business hope to sell it as a thriving company preserving both the history of the firm and the jobs of the people who work there. The company was owned by the Partridge family until 2005 when it was sold to Amor Holdings for around £14 million. Design firm Candy & Candy is said to have expressed interest in buying the company in the past but may not be interested anymore.