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Creditors fear illiquid equity in new honestbee entity

They say that as shareholders, they would be in worse situation if the new company fails; distressed startup delays last tranche of salary repayment to ex-staff

Sharanya Pillai

Published Mon, Feb 17, 2020 · 09:50 PM

honestbee

Singapore

BEING stuck with potentially illiquid stock was a key concern raised at honestbee's creditor townhall on Monday, which was attended by over 100 creditors, The Business Times has learnt from attendees.

The closed-door townhall was held at the startup's habitat concept supermarket at Boon Leat Terrace and helmed by chief executive Ong Lay Ann.