Rogue Baron Plc Update on Washington DC bars

 
TIDMSHNJ 
 
For Immediate Release 
 
                               22 November 2021 
 
                                ROGUE BARON PLC 
 
                       ("Rogue Baron" or "The Company") 
 
                         Update on Washington DC bars 
 
Rogue Baron PLC (AQSE: SHNJ), announces that it has decided to close its 
original bar location, Bin 1301, in Washington DC. The Company has opted to 
focus its resources and efforts on building and growing its new location, De 
Rhum Spot and on its multi award winning Shinju whisky. 
 
There were a number of factors that led to this decision including, current 
labour shortage, changing market conditions coupled with continuing Covid 
restrictions made it difficult for a small location with seasonal capacity 
restrictions , like Bin 1301, to justify continuing operations at that 
particular location. 
 
The Company will instead focus on growing its new concept De Rhum Spot where 
the location is roughly three times the size with a full kitchen, 2 bars and a 
much larger outdoor patio space that can be enclosed during the winter months, 
creating an even larger usable space. De Rhum Spot has started to see steady 
growth since its opening in July and has recently opened its 2nd floor "Rum 
Lounge" just in time for the winter months and Holiday season. The Company 
believes that a larger focus on this location should provide greater returns 
over time than what Bin 1301 was delivering on a consistent basis and is a 
concept that could be replicated in other markets. 
 
Ryan Dolder, CEO of Rogue Baron commented: 
 
"Closing Bin has been a difficult decision for us, but one we felt would best 
serve the Company going forward. With Bin being such a small location, still 
having Covid seating restrictions in place, limited bar seating, the increasing 
cost of supplies, it made commercial sense to leave.  In the summer months when 
we were seeing record sales it was largely due to the expanded outdoor seating. 
Now with the colder winter months upon us, that outdoor seating is not an 
option at Bin. Because of this we felt the best strategy for the Company was to 
focus our resources and efforts on growing Rhum Spot where the upside potential 
for the Company is far greater." 
 
The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
For further information, please contact: 
 
The Company 
 
Ryan Dolder 
 
[e-mail] 
 
AQSE Corporate Adviser: 
 
Peterhouse Capital Limited 
Guy Miller 
 
 [phone] 
 
AQSE Corporate Broker: 
 
Peterhouse Capital Limited 
Lucy Williams 
 
 [phone] 
 
 
 
END 
 
 

(END) Dow Jones Newswires

November 22, 2021 07:55 ET (12:55 GMT)