Williamette Week reported that the bar was closed, but there isn't too much information on why the bar closed. The website reached out to he booking manager of The Raven who confirmed that the bar has closed by simply responding to an email with, "The Venue is closed."
When the bar changed their name to The Raven in August 2016, the booking manager didn't have positive things to say about Bar Rescue. He stated, "The sign and name were horrible, the show was absolute staged and edited bullshit, the props were cheap and silly, and all the actual stage and lighting gear was rented or borrowed and we didn’t get to keep. The show did irreparable damage to the venue’s image, and provided no benefits other than a small amount of decent furniture"
The Raven (formerly Panic Room and Tonic Lounge) is the second bar from season 4 (3rd set) of Bar Rescue to close and the Bar Rescue Updates Page has been updated to show the bar as closed.