No Signboard Holdings said Thursday it would cease the operations of its Hawker QSR restaurants due to continuing losses.
The company expects to take an impairment loss of around S$500,000 for the outlets’ renovation for the financial year ending 30 September, No Signboard said in a filing to SGX.
“The group is currently looking for replacement tenants,” No Signboard said.
Hawker QSR had locations at Esplanade Mall, Kent Ridge Center and Jewel Changi Airport; the brand had offered “hawker-themed” food such as nasi lemak burgers, black pepper crab burgers and roti prata wraps.
Earlier this week, No Signboard Holdings reported its fiscal third quarter swung to a net loss of S$1.44 million from a year-ago net profit of S$761,142 on weak revenue from the seafood restaurants and a drop in beer sales.
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