No Signboard receives letters of demand from landlords

RESTAURANT operator No Signboard has received letters of demand from the landlords of 2 of its fast-food outlets, for more than S$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, No Signboard 1G6 : 1G6 0% said in a bourse filing on Thursday (Feb 3) night.

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

Last week, the Catalist-listed firm had said it was unable to demonstrate that it could continue as a going concern, and requested a voluntary suspension of the trading of its shares.

One of the letters of demand, for the sum of S$12,161.10, came from the lawyers of Frasers Property Centrepoint, which is the landlord of The Centrepoint Singapore. No Signboard said its wholly-owned subsidiary Hawker QSR occupies a unit at the basement level of the Orchard Road shopping mall.

The other letter was for the sum of S$163,965.56, from lawyers acting for Milano Central, the landlord of the premises including provisional unit #01-37 at 10 Paya Lebar Road, PLQ Mall, Paya Lebar Quarter. Hawker QSR also occupies this space.

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The group's website lists 2 of its Mom's Touch Chicken & Burger fast-food restaurants with those addresses.

No Signboard on Thursday said it has retained Rajah & Tann Singapore as counsel to advise the group on these claims, among other things.

Shares of No Signboard last traded at S$0.031 on Jan 17. It requested a trading halt on Jan 19.

READ MORE: No Signboard requests voluntary trading suspension