No signboard jialat liao! owe more than 176K in rent!

[TerrexLee]

Restaurant operator No Signboard has received letters of demand from the landlords of two of its fast-food outlets, for more than $176,000 in arrears of rental and other monies owing.


Its board is of the view that these claims will have a material adverse impact on the group's financial position and performance, said No Signboard in a bourse filing on Thursday night (Feb 3).


It added that the landlords have each threatened legal proceedings if the group fails to pay the sums.

More at https://shrtcô.de/ejzqY

 

[red amoeba]

another tourist trap bite the dust.
if they have not expanded so aggressively.

 

[laksaboy]

The restaurant at Vivocity alone must have taken up a chunk of their expenses.

 

[poore]

this is wat happens when u dun put a signboard

 

[tobelightlight]

It added that the landlords have each threatened legal proceedings if the group fails to pay the sums.

Landlords dunno all the restrictions cause business to dip but rental didn't dip? Why har? Care about oneself but screw up the society, then the screwed society in turn screw them back.

 

[bobby]

Maybe they could have save some money if they did not actually pay money to design and put up a signboard that says "No Signboard" and not put up a signboard instead.

 

[no_faith]

Before covid i thought their earnings more than enuff for 176k rent?

 

[melzp]

don't be surprised of "ownself don't pay ownself " from this crook Co

 

[laksaboy]

I remember back in the day when their Vivocity restaurant on the roof level was about to open, I saw through the glass window all their managers and staff gathered around a large round table to have a meeting. Vivocity was a fresh new megamall, there was so much joy and optimism.

 

[KuanTi01]

No Signboard and no money.

 

[gingerlyn]

Before covid i thought their earnings more than enuff for 176k rent?

Actually 176k is only for 2 month rental

 

[Hypocrite-The]

Actually 176k is only for 2 month rental

Rent sure is high, no wonder cost of living is increasing n inflation increasing even more

 

[TerrexLee]

No Signboard and no money.

 

[pvtpublic]

Landlords dunno all the restrictions cause business to dip but rental didn't dip? Why har? Care about oneself but screw up the society, then the screwed society in turn screw them back.

the biggest landlord in Singapore is Tenasek/GIC. this should be self-explanatory.

 

[Confuseous]

No Signboard and no money.

An No Ideas - on how to run a business.
Or get into small businesses which accounts for excessive management time for minimal money.
During listing, they spent about 50% of the money raised for Listing Expenses!

 

[congo9]

I think no sign board can close the outlet and just let the landlord sue them.

It is a listed company anyway. No directors has personal legal liability. Let the shutter close.

1)Ask the shareholders pump in more money to sustain the business as a whole.

2) Issue bonds, be like Hyflux. Use people's money and later ask the CEO to come out tearfully and say she is concern about the money of POP AND MUM. Then no need To pay back.

3) Put up no signboard as a business for sale

4)Shutter the shop for good and not the brand.

 

[syed putra]

I think all f&b outlets are affected by covid, not just the airlines and hotels. All these represent maybe 10% of the economy.plus their suppliers