Luckin Coffee Names “Light-Touch” Joint Provisional Liquidators

Luckin Coffee Inc. appoints Alexander Lawson of Alvarez & Marsal Cayman Islands Limited and Wing Sze Tiffany Wong of Alvarez & Marsal Asia Limited to act as “light-touch” Joint Provisional Liquidators.

• Co. doesn’t see material effect on daily operations
• Co. says appointment of the JPLs will provide a stable platform to allow the company and advisors, including Houlihan Lokey (China) Limited (financial advisors to the Company), to facilitate the negotiation and restructuring of its financial obligations
• As of June 30, est. prelim unaudited cash and cash equivalents (excluding restricted cash and illiquid short-term investments) amounted to approximately $780m, with the ...