N環球 
Crystal Jade shuts four more Singapore outlets, 120 workers get termination notices
Receiver Kroll disclosed Oct. 7 that four more Crystal Jade outlets in Singapore ceased operations Oct. 6, with about 120 workers issued termination notices; nine restaurants remain with no further closures expected.
Why it matters
Financial and risk advisory firm Kroll disclosed on Oct. 7 that four more Crystal Jade outlets in Singapore ceased operations on Tuesday, Oct. 6, with about 120 workers across the affected outlets and some corporate functions issued termination notices. The closures are part of a reorganisation of Crystal Jade's Singapore business ahead of a proposed sale. Kroll said no further closures are expected, leaving nine restaurants trading.
Full report
The four outlets that closed were three Crystal Jade La Mian Xiao Long Bao restaurants — at Bugis Junction, Toa Payoh and i12 Katong — and a Crystal Jade GO at Punggol Oasis Terrace. The vacated premises will be handed back to landlords. After the reorganisation, the Singapore holding company will retain about 210 employees.
Kroll representatives were appointed receivers of the holding companies for Crystal Jade's Singapore and Hong Kong operations on Sept. 29. Kroll said all affected employees were informed directly and will receive salary payments through their final day of employment, with notice periods honoured and compensation in line with employment contracts. Since Sept. 30, Kroll has been engaging the Food, Drinks and Allied Workers Union (FDAWU), an NTUC affiliate, to support affected workers through the transition.
Separately, Crystal Jade Food Manufacturing, the group's central kitchen in Singapore that sits outside the receivership, ceased operations on Oct. 5. Kroll said it intends to market the business for sale as a going concern to preserve the brands, restaurant operations and value built over more than three decades.
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