Singapore and Hong Kong holding companies of restaurant group Crystal Jade placed under receivership

On September 30, 2026, the holding companies of restaurant group Crystal Jade in Singapore and Hong Kong were placed under receivership. Advisory firm Kroll was appointed to review the group's financial and operational affairs and assess strategic options. The receivership does not mean closure; Crystal Jade continues to operate its restaurants. The group recently closed five outlets in Singapore, leaving 13 open. The receivership is part of a process to facilitate L Capital Asia's exit from Crystal Jade. Customers can still dine at Crystal Jade restaurants, and management remains in place.