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Its owners, the Corcoran family and Martin Summers, announced last week that they will cease trading as Alex. Reid & Lefevre Ltd and will close the gallery at 30 Bruton Street, W1 as of April 2002.

The directors feel that big commercial galleries with high overheads have now become a thing of the past and in the 21st century private dealing with less emphasis on the administration of a large organisation will allow more time to service the needs of clients.

All three directors, Desmond Corcoran and Martin Summers, each of whom have over 40 years dealing experience, and Alexander Corcoran, will remain privately active in the art world.