In the email, Joel Sng listed some of honestbee's "key outstanding debt obligations", which totaled to approximately US$40.9 million.

Other additions to the team include vice-presidents for corporate strategy, regional growth, and Honestbee's physical retail store Habitat.

Honestbee's priority now is to regain the confidence of investors, employees and staff through this revamp.

For now, honestbee said that it will focus on its core grocery business in Singapore, namely its grocery delivery service and supermarket habitat.

After excluding payments to small creditors, Honestbee has an outstanding debt of $286 million, according to the affidavit.

The High Court hasn't reached a decision on Honestbee's six-month moratorium, but granted the firm 30 more days to further support their application.

Tay said that he resigned from honestbee last September because he disagreed with the direction that the company is taking.

The email stated that "senior management will not be paid, and those salaries will be disbursed first to current employees of the firm."

In the court document, honestbee confirms that it has been "facing financial difficulties since on or around January 2019."

Honestbee has submitted an application to the High Court to supervise its restructuring process as it seeks six months of reprieve from creditors.

According to the source, Brian Koo who assumed the CEO role in May, will be stepping down from his role.

One former employee told Vulcan Post that he received his June salary only two weeks after he left the company in early July.