Art firm closure leaves staff unpaid; lawyers urge them to file claims and focus on job hunt

SINGAPORE – Employees of an art investment firm which closed suddenly may never see their owed salaries, but lawyers urged them to file salary claims and prioritise their job hunt.

Art Works, which ran an art investment advisory and a gallery at One Holland Village, went into voluntary liquidation on Oct 30, leaving behind questions over unpaid staff wages, artists’ fees, and client-owned art pieces still left in its care.

One of Art Works’ 15 employees told The Straits Times that two of the three company directors – all foreign nationals – have left Singapore and changed their phone numbers. ST’s calls and texts to a number linked to one of them went unanswered.

Ms Viviene Sandhu, lawyer and co-managing partner of Clifford Law, advised the firm’s workers to file their salary claims with the Tripartite Alliance for Dispute Management (TADM) – even though Art Works is not a unionised company.

They should also register themselves as preferential creditors, and file a proof of debt with the liquidator to ensure their place in asset distribution should funds become available.

“Under the Companies Act, employees are treated as preferential creditors in liquidation. This means certain employment-related debts, including unpaid salary and unused annual leave, are ranked ahead of unsecured business creditors when the company’s remaining assets are distributed,” she said.

Ms Sandhu added that going to TADM would also trigger intervention by the Ministry of Manpower (MOM) and, in some cases, escalation to the Employment Claims Tribunals.

“Unfortunately, this is not the first time we have seen businesses cease operations abruptly, and it highlights recurring vulnerabilities in the current framework,” she said.

Art Works’ three directors – Mr Samuel Hardwick, Mr Christopher Hallewell and Mr Troy Sadler – issued a statement late on Nov 4 via their liquidator Forvis Mazars, after media outlet CNA reported on the closure.

The trio blamed a “confluence” of factors for the shutdown, saying: “We invested ahead of the curve, expanding operations and hiring key personnel in anticipation of funding agreements we believed were firmly in place.

“However, 2025 proved exceptionally challenging. Rising operating costs, combined with a well-documented downturn in Singapore’s retail environment that has seen numerous closures across sectors, significantly impacted our operations. Investor caution due to geopolitical uncertainty further complicated the landscape.’’

They said the final blow was a cut in funding, even though they had already secured agreements and signed term sheets.

Addressing clients, suppliers, employees and artists, they said sorry for not being able to keep the business, but made no mention of payments.

They gave the assurance that details about the liquidation process and creditors meeting would be shared “in due course”.

In a collective statement, Art Works’ employees said they were told the company was being wound up in a meeting on Oct 30.

“This announcement came without prior warning or consultation with employees. No advance notice was provided regarding the company’s financial difficulties, the decision to cease trading, or the termination of our employment. We were informed that we will not receive outstanding wages or entitlements,” they said.

They added that several employees were still contacting clients, informing them that liquidators would be in touch to arrange collection or continued storage of their art pieces.

US-based artist Sylvie Kettle, who is owed payment for her sold works, said she is in contact with the liquidator, but has not been assured of payment.

Artists, clients and other creditors are urged to contact Forvis Mazars at

with details of their holdings, contracts and amounts owed, the staff said.

“Retain all documentation relating to your dealings with Art Works, respond promptly to communications from the liquidators, and seek independent legal advice regarding your specific situation,” they added.

The staff, comprising both Singaporeans and foreigners, are owed at least one month’s salary for October, according to the employee who spoke to ST.

The employee said landing a new job at this tail end of the year will be hard.

“Despite our personal circumstances, we remain committed to assisting the liquidation process where appropriate and ensuring clients and artists are reunited with their works as smoothly as possible.”

Mr Clarence Ding, partner at law firm Ashurst, said the employees should focus their efforts on finding new employment.

The liquidation process can “take quite a while”, he said. Secured creditors, such as a bank which had provided a loan, will be paid first, followed by preferential creditors, like staff with unpaid salaries.

The staff may get some payment in due course, but not necessarily the whole amount they are owed, he said.

He also urged the employees to tap support from MOM and the National Trades Union Congress (NTUC) even though they are not unionised.

Art Works, which was incorporated as Art Index International in 2011, joined a string of companies that were recently in the news for sudden business closure and layoffs.

Soya milk retailer Jollibean was

it owed staff in Central Provident Fund contributions, after it shuttered in July.

Confectionary chain Twelve Cupcakes wound up in October and

.

NTUC said local residents who were retrenched could approach the Employment and Employability Institute for help with job matching, career coaching and skills upgrading.