Crystal Jade closes another four outlets; termination notices issued to about 120 workers
Nine Crystal Jade restaurants remain open in Singapore, with no further outlet closures expected, its receivers say.
Crystal Jade has closed four more outlets in Singapore, bringing the total of operational restaurants to nine. The four recently shuttered locations were three Crystal Jade La Mian Xiao Long Bao spots at Bugis Junction, Toa Payoh, and i12 Katong, along with a Crystal Jade GO in Punggol Oasis Terrace. The terminations affected around 120 workers across the closed outlets and some corporate functions.
This move is part of a reorganization of Crystal Jade's Singapore business in preparation for a proposed sale, according to financial and risk advisory firm Kroll. Kroll representatives were appointed receivers of Crystal Jade's Singapore and Hong Kong operations on September 29. The restaurant premises will be returned to landlords, and employees will receive salary payments up to their final dates of employment.
All affected workers have been informed directly, and care packages containing daily essentials and groceries have been prepared for union members. Crystal Jade's Singapore holding company will now have approximately 210 employees following the reorganization. Crystal Jade Food Manufacturing, the group's central kitchen in Singapore, ceased operations on Monday, with management deciding the closure as part of the broader restructuring efforts.
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