Caixin
Mar 08, 2022 06:41 PM
BUSINESS

Luckin Escapes Liquidation After Striking Debt Restructuring Deal

What’s new: Luckin Coffee Inc. said on Monday that a petition to wind up the disgraced chain had been dismissed, after it reached a deal with creditors to restructure $460 million in debt.

The erstwhile Starbucks China challenger said the Grand Court of the Cayman Islands had called off provisional liquidators, who were appointed in July 2020 after the petition was filed.

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