No Signboard may close Clarke Quay outlet amid coronavirus pandemic

RESTAURANT operator No Signboard Holdings could terminate the lease for its outlet at The Central @ Clarke Quay, even as all its other outlets reopened on Friday, the board has said.

The board said that the group, which has other seafood restaurants at VivoCity, The Esplanade and at 414, Geylang Road, would focus its resources on those outlets while it is in talks with its landlord on whether it can terminate the lease for the Clarke Quay branch.

It would be cheaper to keep the outlet shut than to run it, given the uncertainty over when travel-entry restrictions for visitors to Singapore will be relaxed, said the operator in its business update.

Catalist-listed No Signboard will also add catering services to its dine-in, take-away and delivery options, in a move that it said is not expected to materially affect the group's financial position.

While the board expects revenue and operating profits to be affected for the 12 months to Sept 30, it said it believes the company has enough resources to get through the period.

Still, it is hard for the company to assess the full financial impact of the novel coronavirus pandemic for the coming quarters, the board told shareholders.

"The group will prioritise its resources on tackling immediate challenges brought about by the Covid-19 pandemic, and will adopt a cautious and prudent approach in managing its restaurants portfolio in Singapore and overseas in the near term, and it will negotiate the best possible terms upon renewal and/or entering into new leases," it added.