The closures come as receivers Kroll prepare Crystal Jade for sale
Crystal Jade has closed another four outlets in Singapore, leaving nine restaurants in operation. No further closures are expected, Channel News Asia reported.
Three of the four outlets were Crystal Jade La Mian Xiao Long Bao locations, at Bugis Junction, Toa Payoh and i12 Katong. The fourth was a Crystal Jade GO at Punggol Oasis Terrace. All ceased operations on Tuesday, Oct 6.
About 120 workers across the affected outlets and some corporate functions were issued termination notices.
The closures are part of a reorganisation of Crystal Jade’s Singapore business ahead of a proposed sale, financial and risk advisory firm Kroll said in a media release on Wednesday, Oct 7.
Kroll representatives were appointed receivers of the holding companies for Crystal Jade’s Singapore and Hong Kong operations on Sep 29. In a receivership, an appointed receiver takes control of certain assets of a company, typically to protect or recover their value.
Kroll said the restaurant premises would be handed back to landlords.
“All affected employees have been informed directly and will receive salary payments up to their final date of employment. Restaurant staff will continue to serve their applicable notice periods and will be compensated in accordance with their employment contracts,” the firm added.
Employees who need help with final pay or benefits may continue to contact the HR team.
About 210 employees will remain at Crystal Jade’s Singapore holding company after the reorganisation, Kroll said.
Kroll said it intends to market the business for sale as a going concern, aiming to preserve the brands, operations and value Crystal Jade has built over more than 30 years.
The proposed sale is intended to support the business’s continuity and future growth and is not expected to result in further operational restructuring. The nine remaining restaurants in Singapore will continue operating as usual.
Separately, Crystal Jade Food Manufacturing, the group’s central kitchen, ceased operations on Monday, Oct 5. It falls outside the receivership, and Kroll said management decided to close it as part of the group’s wider restructuring.
To support affected employees, Kroll said that it and Crystal Jade have been engaging the Food, Drinks and Allied Workers Union (FDAWU) and other associations since Sept 30.
FDAWU, an affiliate of the National Trades Union Congress (NTUC), said in a media statement on Oct 7 that Crystal Jade is not unionised, but that it had been approached by the appointed receivers to support affected union members and workers.
2026 has been a rough year for Crystal Jade. Prior to this, it had already shuttered five Singapore outlets at Hillion Mall, Suntec City, The Clementi Mall, Jurong Point and Great World.
It is also facing a court charge for failing to submit its complete income tax return for FY2025 on time, where it could be fined up to S$5,000.
Founded in Singapore in 1991, Crystal Jade was one of the country’s fastest-growing Chinese restaurant groups, reaching 120 restaurants worldwide in 2015.
However, that footprint is closer to 100 restaurants across 25 cities now.
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Featured Image Credit: Ricky Tho via Google Reviews
