For Immediate Release
23 March 2021
ROGUE BARON PLC
(“Rogue Baron” or “The Company”)
Rogue Baron’s Washington DC Bar Showing Accelerated Post-Pandemic Growth
Outdoor seating allowed to double its overall capacity
Rogue Baron PLC (AQSE: SHNJ), a leading company in the premium spirit sector, is seeing a surge in year over year sales at its bar, Bin 1301 (“Bin” or “Bar”), in Washington D.C. Sales are up 90% over last March despite many mandated Covid restrictions still in effect.
From March 1st to March 18th of 2020, a day before the first official lockdown in the U.S. went into effect, Bin did $18,624 in gross sales during that time. Those sales happened when there were still zero restrictions in place.
A year later, over that same period from March 1st to March 18th of 2021, Bin recorded sales of $35,330. This was achieved even with multiple Covid restrictions in place. The Bar can currently only operate at 25% capacity indoors and must stop serving at 10pm each night, compared to 2am on weeknights and 3am on weekends before Covid. Aside from the capacity being much less, the curfew costs the Bar thirty additional hours of sales opportunity each week.
Rogue Baron has spent much of the past year adapting and preparing to take advantage of a post-pandemic hospitality world. Management has made its delivery/to-go business more efficient, created and actively promoting sales of full bottles and cocktails to-go, and petitioned and received approval to expand its outdoor seating capacity. The outdoor seating will allow Bin to double its overall capacity. The District has announced it will allow the extra outdoor seating through at least 2023 with a possibility of extending longer.
Ryan Dolder, CEO of Rogue Baron commented:
“The pent-up demand and desire from people to just get out to the bars and restaurants is amazing. We knew if our business could survive the pandemic there would be enormous opportunity on the other side. Even at only 25% indoor capacity and less service hours, we are seeing double our sales from a year ago. What is most exciting to us is this is just starting. With the pandemic hopefully coming to an end and restrictions soon removed, we believe consumer spending in hospitality is going to be unlike any time in recent history.”
Introduction to Rogue Baron
Rogue Baron is a diversified holding company in the premium spirits industry. The Company’s core focus is on developing brands in high-growth categories where opportunity exists to grow sales and increase its shareholders’ value. The Company has multiple brand subsidiaries led by its flagship brand, Shinju Japanese Whisky.
The Company’s goal is to build each of its brands to the case sale threshold that makes them an attractive buyout target.
The Directors of the Company accept responsibility for the contents of this announcement.
For further information, please contact:
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Guy Miller +44 (0) 20 7469 0936
AQSE Corporate Broker:
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Lucy Williams +44 (0) 20 7469 0936
Investor Relations +44 (0)7464 609025