Crystal Jade closes four more outlets, cuts 120 jobs ahead of proposed sale

Singapore's restaurant group Crystal Jade has announced the closure of four more outlets and the termination of approximately 120 employees as part of a restructuring process leading up to a potential sale of the company. The four recently shuttered locations – three Crystal Jade La Mian Xiao Long Bao restaurants in Bugis Junction, Toa Payoh, and i12 Katong, along with Crystal Jade GO in Punggol – ceased operations on October 6.

Advisory firm Kroll, which was appointed to oversee Crystal Jade's Singapore and Hong Kong operations, confirmed on October 7 that the restructuring measures for the Singapore business have been successfully implemented. This announcement leaves the company with nine operating outlets in Singapore and a workforce of around 210 employees.

Kroll stated that the terminated workers, who were involved in both the restaurants and certain corporate functions, will receive their final salaries and will continue to serve their notice periods as per their employment contracts. The terminated employees will also receive compensation according to their employment agreements.

Kroll and Crystal Jade have been working closely with the Food, Drinks and Allied Workers Union (FDAWU) to provide support to affected employees. FDAWU general secretary Sankaradass S. Chami expressed gratitude for the union's involvement, emphasizing that their primary focus was to ensure fair treatment for affected members and workers during this challenging period.

The union has collaborated with NTUC's Employment and Employability Institute (e2i) and employer partners to assist affected workers in finding new employment opportunities. Together, they compiled over 400 job listings across various sectors, such as food manufacturing, food services, hospitality, and wholesale and retail. Employer partners included Paris Baguette, Neo Group Bakery, and Din Tai Fung, among others.

FDAWU representatives were present to assist affected union members, address their concerns, and provide guidance on available support schemes.

Moreover, Crystal Jade's central kitchen in Singapore, Crystal Jade Food Manufacturing, which operates outside the scope of the receivership, also ceased operations on October 5. This decision was made by the company's management as part of the broader restructuring efforts. The Kroll representatives do not anticipate any additional outlet closures in Singapore.