UPDATE 1-Luckin Coffee chairman defaults on loan, surrenders company shares
Luckin Coffee
Chairman Charles Zhengyao Lu and Chief Executive Jenny Zhiya
Qian have handed over shares in the embattled Chinese coffee
chain to lenders after a company controlled by Lu’s family
defaulted on a $518 million margin loan, one of the banks said
on Monday.
Chairman Charles Zhengyao Lu and Chief Executive Jenny Zhiya
Qian have handed over shares in the embattled Chinese coffee
chain to lenders after a company controlled by Lu’s family
defaulted on a $518 million margin loan, one of the banks said
on Monday.
Posted by Reuters
