UK online car retailer Cazoo enters administration [Yahoo! Finance]
Cazoo Group Ltd Class A Ordinary Shares (CZOO)
Company Research
Source: Yahoo! Finance
The London-based company, listed on the New York Stock Exchange, appointed Teneo Financial Advisory's David Soden and Matthew Mawhinney as joint administrators. Cazoo Ltd, Cazoo Holdings Limited, and Cazoo Properties Limited are now in administration while Cazoo Group is set to liquidate. Founded in 2018 by Alex Chesterman, Cazoo was once valued at over £5bn. Earlier this month, the company filed notices to appoint administrators for its subsidiaries, providing a grace period to seek a rescue deal. Cazoo has been reducing its used car inventory, settling stocking loans, and cutting staff to stabilise its finances, including terminating leases, selling customer service centres, and disposing of non-essential assets. In March, Cazoo announced a strategic shift towards a pure-play automotive marketplace business model. The administration filing is seen as the next step in restructuring, aimed at optimising returns to creditors. In a filing, Cazoo stated: "The director plac
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CZOO
News
- 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
- NYSE to Commence Delisting Proceedings Against Cazoo Group Ltd (CZOO) [Yahoo! Finance]Yahoo! Finance
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