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Aya Lin · · 1 min readIn brief: Honestbee faces millions in creditor demands, owes at least $209m
- Online food delivery startup Honestbee has received demands from creditors claiming S$6 million (US$4.3 million), and owes at least US$209 million to its largest creditors, The Business Times reported citing an affidavit filed by the company at a Singapore High Court pre-trial conference.
- Honestbee also has outstanding leases for three units at Boon Leat Terrace for its dining and retail concept Habitat and its space at Blk 2 Tampines Logis Park. It’s further saddled with leases for 19 vans from Goldbell Leasing and Think One Leasing, according to the documents.
- The embattled grocery startup’s chief executive Ong Lay Ann’s court affidavit shows that the company has also been served with four statutory demands for a total of S$940,942 (USD$681,000) since July 15 and 34 letters of demand for about S$5.1 million (US$3.7 million).
- Honestbee chairman Brian Koo, A Honestbee Pte Ltd, and venture investor Formation Group have expressed interest in investing up to US$10 million each in the company, according to letters attached to the affidavit.
Editing by Jaclyn Teng
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