honestbee to hit the brakes on food delivery services on 20 May
About 400 delivery partners will be affected.
honestbee is halting its food delivery service in Singapore and temporarily suspending its laundry service starting 20 May 2019, it said in an announcement, citing the in-depth strategic review of its business.
About 400 delivery partners will be affected by the decision. “Although many delivery bees are part-timers, they have played a key role, and have been a critical part of the honestbee family. During this transition, honestbee remains committed to assist all delivery bees. The headcount in Singapore remains unaffected.”
Meanwhile, its grocery delivery service and its physical space, habitat by honestbee, will continue to operate.
The firm added that its newly-appointed executive team is working on future plans to “stay relevant and sustainable in today’s rapidly-changing business environment.”
“This will help to put honestbee in the best possible position to support the business in Singapore and other geographies going forward,” it said.
Singapore is honestbee’s latest market to get hit by with the firm’s cash crunch issues. It has already suspended its business in Hong Kong, Japan, Indonesia and the Philippines.
Co-founder and CEO Joel Sng has also stepped down from the company and has been replaced by Brian Koo.