Will Luckin Coffee Inc (OTCMKTS:LKNCY) Recover From Bankruptcy

Women Medical specialists to host children’s cancer awareness in Vhembe district

Limpopo Health MEC Dr Phophi Ramathuba will lead women medical specialists during the children's cancer awareness campaign to be held at Tshilidzini Hospital in the Vhembe District under the theme: "Children our future". This is part of the Women's month celebration and the 2nd anniversary of the Rural Health Matters outreach program.

Operation Vala Zonke launched in Northern Cape

The Premier of the Northern Cape, Dr Zamani Saul, together with the MECs for Roads and Public Works, Ms Fufe Makatong, and Transport, Safety and Liasion, Ms Nomandla Bloem, joined by a team from SANRAL led by the Regional Manager, Mr Randal Cable, today launched the roll out of the provincial leg of Operation Vala Zonke. This is a national campaign aimed at repairing potholes.

Response to a Social Media post of a patient living with a disability waiting for a file

South Africa: Limpopo department of health has noted the story circulating on social media of a patient living with disabilities waiting for a file at Siloam Hospital.

Dominica continuously making new investments in education sector

Roseau, Dominica: The government of Dominica is making a new investment in the education sector without taking any break. The goal of the Caribbean country is to prepare youngsters for the future and utilize the new, modern technologies in order to advance the sector.

In May 2020, Hertz Global Holdings Inc (OTCMKTS:HTZZ) filed for bankruptcy after it was affected by the COVID-19 travel restrictions. Since then, the company has emerged from protection in part due to support from its investors.
Hertz’s institutional investors bought up the stock to take control of the company. The bid allowed Hertz to fully cover its debt and give large pay-outs to investors who stuck with them. In most cases, bankruptcy and restructuring lead to shareholders being wiped out. With Hertz recovery, people are beginning to wonder if Luckin Coffee Inc (OTCMKTS:LKNCY) can also recover from bankruptcy.

Can Luckin Coffee recover?

Luckin Coffee filed for bankruptcy in the US in February, and many now wonder if the same results from Hertz can be replicated. Like Hertz, Luckin also has several loyal investors who keep buying shares even after the company filed for bankruptcy. Share value has recently gone up due to an increase in trading volume. Luckin Coffee investors have already raised its market work to $3.3billion.

Luckin has still kept its stores open in China, and this has helped the company significantly. According to a report given by liquidators in the Cayman Islands during a court proceeding, the company managed to achieve profitability at the store level in August for the first time.

Luckin Coffee controversy

The company made headlines when it admitted to faking 2.2 billion yuan in sales in 2020. As a result, the company was delisted from NASDAQ and asked to pay $180million in fines to the Securities and Exchange Commission (SEC).
Despite its legal troubles, Luckin Coffee’s investors have chipped in to save the company from bankruptcy. The company received $250million from Centurium Capital and Joy Capital, two private Chinese equity firms. The amount received in April enabled the company to pay its SEC fine for accounting fraud. The remaining went to its first cash outlay for its offshore debt restructuring. Luckin says it has received approval from the Chinese government to transfer money for the restructuring abroad.

Moreover, in results from a local survey of consumer preferences in China, Luckin Coffee ranked better than McCafe, produced by McDonald’s Corp (NYSE:MCD). It also ranked competitively against Starbucks Corporation (NASDAQ:5BUX).

Women Medical specialists to host children’s cancer awareness in Vhembe district

Limpopo Health MEC Dr Phophi Ramathuba will lead women medical specialists during the children's cancer awareness campaign to be held at Tshilidzini Hospital in the Vhembe District under the theme: "Children our future". This is part of the Women's month celebration and the 2nd anniversary of the Rural Health Matters outreach program.

Operation Vala Zonke launched in Northern Cape

The Premier of the Northern Cape, Dr Zamani Saul, together with the MECs for Roads and Public Works, Ms Fufe Makatong, and Transport, Safety and Liasion, Ms Nomandla Bloem, joined by a team from SANRAL led by the Regional Manager, Mr Randal Cable, today launched the roll out of the provincial leg of Operation Vala Zonke. This is a national campaign aimed at repairing potholes.

Response to a Social Media post of a patient living with a disability waiting for a file

South Africa: Limpopo department of health has noted the story circulating on social media of a patient living with disabilities waiting for a file at Siloam Hospital.

Dominica continuously making new investments in education sector

Roseau, Dominica: The government of Dominica is making a new investment in the education sector without taking any break. The goal of the Caribbean country is to prepare youngsters for the future and utilize the new, modern technologies in order to advance the sector.

Official opening of Eastern Cape Arts Exhibition

South Africa: The Eastern Cape Arts Exhibition opened today at the Nelson Mandela Metropolitan Art Museum in St. George's Park.

Deputy Minister Nocawe Mafu congratulates Team SA on pocketing more medals at the 2022 Commonwealth Games

Birmingham (UK): Team South Africa added four more medals to their collection at the ongoing Commonwealth Games in Birmingham on Saturday.