It closed in 2020, in part due to restrictions imposed in response to the COVID-19 pandemic. TimeOut, after it closed, wrote that as "one of the best bars in New York, Pegu Club was also one of the seminal bars of the craft cocktail movement. Countless bartenders worked here that went on to open their own spots that New Yorkers have come to love."
Pegu Club shut down in 2020 partly due to COVID-19 restrictions. TimeOut noted it as "one of the best bars in New York and a key figure in the craft cocktail movement." Many bartenders who worked there later opened their own popular spots that New Yorkers frequent.