People walking past a Luckin Coffee outlet in Beijing. The coffee chain has brought in administrators and financial advisers to reorganise its debt. Photo: Reuters People walking past a Luckin Coffee outlet in Beijing. The coffee chain has brought in administrators and financial advisers to reorganise its debt. Photo: Reuters
People walking past a Luckin Coffee outlet in Beijing. The coffee chain has brought in administrators and financial advisers to reorganise its debt. Photo: Reuters
IPO
Business /  Companies

Luckin Coffee appoints liquidators, financial advisers to restructure and salvage business after accounting scandal

  • Court names two officials from Alvarez & Marsal as provisional liquidators to oversee its business under the daily control of board of directors
  • Luckin hires Houlihan Lokey as financial advisers to negotiate with creditors on its financial debt; estimates unrestricted cash at US$780 million

Topic |   IPO
SCMP Reporter
SCMP Reporter

Updated: 8:36pm, 16 Jul, 2020

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People walking past a Luckin Coffee outlet in Beijing. The coffee chain has brought in administrators and financial advisers to reorganise its debt. Photo: Reuters People walking past a Luckin Coffee outlet in Beijing. The coffee chain has brought in administrators and financial advisers to reorganise its debt. Photo: Reuters
People walking past a Luckin Coffee outlet in Beijing. The coffee chain has brought in administrators and financial advisers to reorganise its debt. Photo: Reuters
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