honestbee's restructuring may hinge on fixing business model
To get creditors on board, honestbee must demonstrate financial viability, avoid cash burn, experts say
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Sharanya Pillai
Singapore
TO convince creditors to back its debt restructuring plans, honestbee must demonstrate its business viability in the cutthroat offline-to-online retail scene, industry watchers told The Business Times.
The embattled startup is seeking a six-month debt moratorium against S$6 million worth of demands from creditors and 11 legal proceedings, according to an affidavit filed at a Singapore High Court pre-trial conference on Tuesday.
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