Business & Finance

Crystal Jade Cuts Four More Singapore Outlets, 120 Workers Terminated

By CNA

Crystal Jade has shut four more restaurants in Singapore, leaving nine locations open and no further closures planned. The outlets closed on Tuesday, Oct 6, included three Crystal Jade La Mian Xiao Long Bao sites at Bugis Junction, Toa Payoh and i12 Katong, and a Crystal Jade GO at Punggol Oasis Terrace. About 120 employees from the closed outlets and some corporate roles received termination notices.

The closures are part of a reorganisation of Crystal Jade’s Singapore business ahead of a proposed sale, according to financial and risk advisory firm Kroll, which announced on Wednesday that it had been appointed receivers of the holding companies for Crystal Jade’s Singapore and Hong Kong operations on Sep 29. Receivership typically involves an appointed receiver taking control of certain assets to protect or recover their value. The restaurant premises will be returned to landlords, Kroll said.

Kroll added that all affected employees have been informed directly and will receive salary payments up to their final date of employment. Restaurant staff will serve their notice periods and be compensated in line with their contracts. Employees needing assistance with final pay or benefits may contact the HR team.

After the reorganisation, Crystal Jade’s Singapore holding company will have about 210 employees. Kroll intends to market the business as a going concern, aiming to preserve the group’s brands, restaurant operations and the value built over more than 30 years. The proposed sale is expected to support the business’s continuity and future growth, with no further operational restructuring anticipated.

The nine remaining restaurants will continue operating normally. Separately, Crystal Jade Food Manufacturing, the group’s central kitchen in Singapore, ceased operations on Monday. That facility operates outside the receivership; its closure was decided by management as part of broader restructuring.

Support for affected workers has involved Kroll and Crystal Jade engaging the Food, Drinks and Allied Workers Union (FDAWU) and other associations since Sep 30. FDAWU, an affiliated union of the National Trades Union Congress (NTUC), stated that Crystal Jade is not unionised but that it was approached by the receivers to support union members and workers. FDAWU said it was pleased to be proactively engaged and could act quickly to assist.

More than 400 job opportunities were curated by FDAWU and NTUC’s Employment and Employability Institute (e2i) across food manufacturing, food services, hospitality and wholesale and retail sectors. Employer partners such as Paris Baguette, Neo Group Bakery and Din Tai Fung conducted on‑site interviews for affected workers during a communications exercise by Crystal Jade. FDAWU representatives were on site to help union members, answer questions and explain available support schemes. NTUC’s e2i also provided career resources, support services and advice to aid workers in transitioning to new roles. Care packs with daily essentials and groceries were prepared for affected union members.