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Stock impact report

Administrator Appointed As Used Auto Site Cazoo Fails NYSE Compliance [Forbes]

Cazoo Group Ltd Class A Ordinary Shares (CZOO) 
Company Research Source: Forbes
Online auto dealer Cazoo, which was once valued at a hefty $8 billion, has fallen into administration, with specialist Teneo now searching for a buyer for its remaining assets, notably its online marketplace. The company - which had launched with the lofty aim of revolutionizing second-hand auto buying in the U.K. and Europe - has collapsed just over two years after listing on the New York Stock Exchange in 2021. In keeping with a bold advertising approach, Cazoo spent heavily on sponsorships, including at Premier League soccer clubs Aston Villa and Everton, while it also backed other sports including horse racing, darts, snooker and cricket. It used the tagline "Cazoo yeah you can". On its website, Cazoo states its mission as: "To transform the car buying and selling experience across the U.K. by providing better selection, transparency, convenience and peace of mind. Our aim is to make buying or selling a car through our marketplace platform no different to ordering any other Show less Read more
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