No Signboard to close Esplanade restaurant, Orchard and Yishun outlets to stay open
SINGAPORE — Popular restaurant chain No Signboard Seafood said it will close its Esplanade outlet and maintain operations of two other outlets.
In a filing to the Singapore Exchange on Thursday night (31 March), No Signboard said that the local food and beverage industry has been adversely impacted by the COVID-19 pandemic.
The Catalist-listed restaurant operator has “carefully considered” the option of keeping the outlet at Esplanade Mall open until all COVID-19 restrictions are fully lifted.
“However, while COVID-19 dine-in restrictions have recently eased, it may take several more months before travel returns to pre-COVID-19 levels, which will continue to adversely affect the business of the No Signboard Seafood Esplanade outlet.”
Closing the outlet would be in the best interests of the company, which has been taking various steps to cut costs, given its current financial situation, No Signboard said.
Best known for its signature chilli crab and white pepper crab, No Signboard began in the 1970s when its founder Ong Kim Hoi started her seafood hawker stall at Mattar Road Hawker Centre.
No Signboard’s other outlets – Little Sheep Hotpot at Orchard Gateway and No Signboard Sheng Jian at Northpoint City in Yishun – will remain open, the company said.
A check on its website shows that the Esplanade outlet is “temporary closed till further notice” (sic) while its Geylang outlet carrying the signature brand is still operating.
“The closure of the No Signboard Seafood Esplanade outlet will allow the Group to focus its efforts and resources on operating the Group’s casual and quick-serve restaurant outlets until further review of the evolving COVID-19 situation.”
Last month, No Signboard announced that it will liquidate Danish Breweries, which imports and exports beer and liquor, “due to its cash flow problems and its inability to pay its debts”.
Stay in the know on-the-go: Join Yahoo Singapore's Telegram channel at http://t.me/YahooSingapore
