Houlihan Lokey’s remit will be to provide financial and strategic advice, one source said. The lenders are seeking to recover about $324 million of outstanding debt, according to a Cayman Islands court filing. Houlihan Lokey has experience with advising other companies in financial distress. Luckin Coffee and Houlihan Lokey were not immediately available for comment. ($1 = 7.0670 Chinese yuan renminbi)(Additional reporting by Scott Murdoch in Hong Kong and Sophie Yu in Beijing; Editing by Ed Osmond)

Source: MetroXpress June 23, 2020 10:18 UTC