honestbee may face tough search for buyer

Singapore

HONESTBEE could struggle to find a buyer amid reports that it is facing a cash crunch and looking for suitors, industry observers said.

The grocery and food delivery startup is reportedly struggling to pay its staff, amid layoffs and high-level departures, and has held early talks with some potential buyers in Asia who could possibly acquire part or all of its business, according to a TechCrunch report last Friday.

Citing sources familiar with the talks, TechCrunch reported that the suitors include tech unicorns Grab and Gojek. Grab is invested in honestbee's competitor, HappyFresh. Meanwhile, honestbee's backer, Formation Group, has also invest…