London-based gallery Stephen Friedman is in debt to the tune of some $10.6 million, according to official documents. Its creditors include a real estate owner, a bank, and an art logistics company as well as several well-known artists. The debts are indicated in an official filing by its administrators on Companies House, reported earlier by the Art Newspaper.  “A proposal to deal with the financial fallout from the London- and New York-based gallery’s closure in February was submitted by the insolvency practitioners FRP Advisory on 30 March and approved on 22 April,” notes the newspaper. Related Articles The gallery is in debt by the largest amounts to Coutts & Co. bank, which it owes £3.2 million ($4.3 million), and London-based multinational investors Pentland Group Ltd., which is due £1.4 million ($1.9 million). The latter owns sports brand Speedo and is a majority stakeholder in retailer JD Sports. Alison Mosheim, a director of Pentland, owns 50 percent of the gallery, per the filing. The gallery is on the hook to the UK’s tax, payments and customs …