Pace Gallery’s CEO Marc Glimcher is looking ahead and washing over the headlines over the last week regarding the gallery’s financial accounts.

“We’re all off the bottom, we just had a record art fair at Art Basel Paris, and we’ve had sellout shows of primarily young artists—everything is turning,” he told ARTnews in a phone interview on Monday, noting that the business is already back in the black and will open a new location in Europe “fairly soon.”

Pace Gallery has been shifting its real estate portfolio recently. Back in June, Pace’s London property was put on the market, with the gallery saying it was seeking a “less corporate” space in the British capital, while in September, Pace announced it was seeking tenants for part of its Chelsea headquarters. Glimcher reiterated that London remains a “great market.” He added, “London is working very well. We are never going to close in London.”