UK online car retailer Cazoo discloses intent to enter administration [Yahoo! Finance]
Cazoo Group Ltd Class A Ordinary Shares (CZOO)
Company Research
Source: Yahoo! Finance
The company, which is listed on the New York Stock Exchange, has filed notices indicating its intention to appoint administrators for several of its subsidiaries. This legal move grants Cazoo a grace period during which it can search for a rescue deal without the threat of creditor action. Cazoo's notice pertains to Cazoo Holdings, Cazoo Ltd, which operates the company's marketplace business, and Cazoo Properties, responsible for the majority of its leaseholds. According to an SEC filing, these subsidiaries are now shielded from creditors' debt enforcement actions for ten days, or until administrators are appointed. Despite these developments, Cazoo has stated that its subsidiaries will continue to operate as normal for the time being. Cazoo has cautioned that if certain subsidiaries enter liquidation, it would consider placing the full group into administration or winding it up. Its filing read: “If certain of the company's operating subsidiaries file for administration
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CZOO
News
- UK online car retailer Cazoo enters administration [Yahoo! Finance]Yahoo! Finance
- Administrator Appointed As Used Auto Site Cazoo Fails NYSE Compliance [Forbes]Forbes
- Online car retailer Cazoo files for administration in UK [Yahoo! Finance]Yahoo! Finance
- UK online car retailer Cazoo files for administration [Yahoo! Finance]Yahoo! Finance
- Used car retailer Cazoo files for administration in U.K., board recommends winding up [Seeking Alpha]Seeking Alpha
CZOO
Sec Filings
- 5/21/24 - Form 6-K
- 5/1/24 - Form 424B3
- 5/1/24 - Form 6-K
- CZOO's page on the SEC website