Crystal Jade holding companies in S’pore, Hong Kong placed under receivership
Advisory firm Kroll is reviewing the group’s financial and operational affairs
Crystal Jade, a Chinese restaurant group, has placed its operations in Singapore and Hong Kong under receivership, with advisory firm Kroll reviewing the group's financial and operational affairs. Kroll's representatives have been appointed as receivers over the Singapore-incorporated Crystal Jade Culinary Concepts Holding and the Hong Kong-incorporated Crystal Jade Culinary Concepts Holding (Great China).
The receivership aims to assess strategic options for stabilising the business and preserving its value, while stakeholders will be engaged regarding potential restructuring. The group has 13 outlets in operation in Singapore and is currently undergoing a process to facilitate L Capital Asia's eventual exit from Crystal Jade.
Brief written by urgent.news from The Business Times - Singapore's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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- Crystal Jade holding companies in S’pore, Hong Kong placed under receivership businesstimes.com.sg
