Crystal Jade to close Suntec City outlet

On whether the latest closure has resulted in job cuts, the spokesperson said: “Our people are our priority.

“Affected employees have been informed directly, and we will support them through this transition, primarily through redeployment opportunities in the Singapore business network where possible, as we have in the past.”

The spokesperson added that Singapore remains Crystal Jade’s home market and that the company is committed to maintaining a sustainable long-term presence here.

Founded in Singapore in 1991, Crystal Jade was once among the country’s fastest-growing Chinese restaurant groups, expanding across multiple concepts locally and overseas.

In 2014, global consumer-focused private equity firm L Catterton Asia (formerly L Capital Asia) acquired a majority stake in the company. L Catterton, whose investors include luxury goods giant LVMH, continues to own the business.

Crystal Jade currently operates several restaurant brands in Singapore, ranging from Cantonese fine dining to casual noodle and dim sum concepts.

It will have 16 outlets here after the Suntec City outlet closes.

The latest closure comes as many food and beverage operators in Singapore grapple with cost pressures, manpower shortages and intensifying competition from new dining concepts.

They also have to contend with consumer spending leaking to overseas markets as Singaporeans take day trips and holidays more frequently, driven by the strong Singapore dollar.