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In a latest turn of developments, Honestbee has reportedly laid off 70 to 80 per cent of its staff, according to a Business Times report on Tuesday (March 10).

The local startup has been going through some difficult times recently.

Last year, the company ran into some cashflow difficulties and allegedly owed nearly S$1 million in unpaid salaries to 217 ex-employees.

They have also seen several leadership changes in its CEO position throughout 2019.

The company's headcount was reduced drastically over time, from its peak of 523 full-time employees and 77 part-timers in January 2019 to about 60 or so earlier this year.

Last month, Honestbee announced that it would temporarily suspend operations at its Habitat supermarket and dining space in Pasir Panjang till Feb. 23.

On Mar. 2, Business Times reported that the company cleared out their furniture from Habitat at 34 Boon Leat Terrace. They had slightly over half a year left on its three-year lease for Habitat as of January 2020.

In addition, the company has not paid salaries and Central Provident Fund contributions to its staff for the month of February, according to Business Times.

So what's next for the startup?

Takeaway joint?

Honestbee's management has confirmed that it has decided to suspend Habitat in view of "difficult commercial circumstances", Marketing Interactive reported.

And apparently, Honestbee is now looking to open a pizza takeaway joint in Siglap.

A spokesperson from Honestbee also told Business Times that the company is in "early stages of setting up a quick service F&B concept" and a "tech-enabled convenience store".

The store will also be focused on fast food service for takeaway.

Kitchen equipment and furniture have also already been moved to a shophouse unit along Upper East Coast Road.

A wood-fired pizza oven that was purchased for Habitat in 2018 could potentially be used in the new pizza shop as well.

Three units of the shophouse are owned by Ong Lay Ann, the company's chief executive, and will be leased for a year at the "market rate".

Top photo via Unsplash, Honestbee