Honestbee, the food and grocery delivery service has just suspended its operations in Malaysia as of Monday, July 22 2019. At the start of this year, it was previously reported that Honestbee is nearly out of money and trying to offload its business.

The company has held early conversations with a number of suitors in Asia, including ride-hailing giants Grab and Go-Jek, over the potential acquisition of part, or all, of its business, according to two industry sources with knowledge of the talks.

Founded in 2015, Honestbee works with supermarkets and retailers to deliver goods to customers using its store pickers, delivery fleet and mobile apps. The company is based in Singapore and operates in eight markets across Asia: Hong Kong, Singapore, Taiwan, Thailand, Indonesia, Malaysia, Philippines and Japan. In some markets it has expanded to food deliveries and, in Singapore, it operates an Alibaba-style online/offline store called Habitat.

The company makes its money by taking a cut of transactions from consumer transactions, while it also monetizes delivery services separately.

Despite looking impressive from the outside, the company is currently in crisis mode due to a cash crunch — there’s a lot happening right now.

And there’s a lot of unhappy customers. A restaurant in SS15, called Jibril took to Facebook to share their story with Honestbee. Jibril states that Honestbee owed them a couple thousand of ringgit over the past months of business. After no communication for a few months, Jibril received a call from them to take back their tab and disappeared again.

Instead of coming back with the money they owed, Honestbee emerged with a letter stating that they’re temporarily suspending operations from 22nd July 2019 onwards. Pertaining to payments, the company states:

“We endeavour to meet our financial commitments to you, however at this moment our headquarters in Singapore is not able to provide a firm payment schedule. We would like to assure you that detailed timeline for the outstanding payment will be communicated as soon as it is available to us.”

The cracks in this grocery delivery startup started when the CEO and co-founder Joel Sng stepped down, followed by the departure of their Vice President of Marketing.

More to come.