The Covid-19 pandemic and the slew of arbitrary restrictions imposed had undoubtedly impact many business sectors in Singapore, and the F&B industry is no exception. Unfortunately for No Signboard, a Catalist-listed seafood restaurant operator famed for its White Pepper Crab, they recently made headlines for failing to pay their rent of more than $176,000. Willie Keng, CFA, Founder, Dividend Titan gives an analysis of their biggest fundamental flaw and why they are in such a bad position when compared to other restaurants like Jumbo.