In the early morning of Friday, December 17th, Chinese coffee company Luckin Coffee's debt restructuring plan received recognition from a federal judge in Manhattan.
Luckin Coffee released its unaudited financial report for the third quarter of 2021 on Thursday. The data showed that its total net revenue in the third quarter was 2.35 billion yuan ($364.7 million).
Chinese coffee company and coffeehouse chain Luckin Coffee Inc. has reached a $175 million settlement in its shareholder class-action lawsuit.
On Thursday, Chinese beverage chain Luckin Coffee announced its financial results for the first half of 2021, showing total net revenue of 3,182.5 million yuan ($497.743 million)
On Tuesday evening, Luckin Coffee issued three announcements. The first was that the company had entered into a binding agreement to settle its US securities class action lawsuit with the lead plaintiffs.
Quxiaomian, a restaurant founded by Charles Lu Zhengyao, former chairman of Luckin Coffee, is seeking a new round of financing.
Luckin Coffee Inc. released the third report of the Joint Provisional Liquidators to the Grand Court of the Cayman Islands on Tuesday night.
Some Luckin Tea stores have changed their signboards and menus to match Luckin Coffee. One Luckin Coffee staff member also confirmed that some Luckin Tea stores in Beijing have already changed their names, while those in other provinces and cities have not yet been renamed.
Chinese domestic media outlet Cailian Press on Tuesday reported that Luckin Coffee is planning a new round of financing, including participants such as Focustar Capital (FSC).
The fraud scandal hasn’t knocked Luckin out of the ring: today, it remains China's second-largest coffee chain. How did Luckin survive the turmoil?
Borgward Auto, owned by Chinese travel and auto services firm UCAR, is to undergo bankruptcy proceedings, with a public announcement to be issued as soon as early July.
According to public information posted to China's enforcement information disclosure website, Luckin Coffee’s ex-chairman Lu Zhengyao on Wednesday was listed as a judgment debtor by the Higher People's Court of Beijing Municipality, obliging him to pay about 1.2 billion yuan ($188 million) in fines.
On the evening of Jan. 6, it was reported that middle and senior executives of Luckin Coffee signed a joint letter, accusing the current chairman and CEO Guo Jinyi.
The performance fraud scandal has put the spotlight on Luckin Coffee’s sales data, and the latest has just been disclosed.
On Dec. 16, the SEC announced that the accounting-fraudulent Luckin Coffee Inc. agreed to pay a $180 million penalty for previous charges concerning the company’s fabricated transactions.