Chelsea Art Museum Closed Until September, Possibly to Avoid Foreclosure

08/17/2010 9:47 AM |

Chelsea art musuem

The Wall Street Journal files an update today on the imperiled status of the Chelsea Art Museum, a great little institution forever overshadowed by the hundreds of world-class galleries surrounding it. Following last week’s news that director Dorothea Keeser’s company, which owns the West 22nd Street building in which the CAM is housed, had filed for bankruptcy protection, the museum will be closed for the rest of the month. Former employees tell the WSJ that the closure had not been planned, and that exhibitions and events had been scheduled for the second half of the month.

The museum is reportedly in talks to restructure its finances (it currently owes $13 million on a mortgage loan); and the state Department of Education will be reviewing the institution’s status as the terms of that loan may make the CAM ineligible for grants and a museum charter. Lt’s just hope this temporary closure doesn’t become permanent.