Honestbee is still churning through the cash as it moves to restructure the business following the four-month debt moratorium it was granted last month.
The retail start-up is burning through an estimated US$1.5 million (S$2.1 million) a month and is relying on shareholder support and key investor Brian Koo for working capital. Mr Koo and his associates have invested almost $260 million in Honestbee over the years, while he has put in at least US$1.6 million in the past couple of months.
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