Cazoo (CZOO) has released an update.
Cazoo Group Ltd, the parent company of online car retailer Cazoo Ltd, is entering voluntary liquidation and has appointed Joint Administrators for its subsidiaries. Despite transitioning to a Marketplace model and reducing cash burn, the move has resulted in 728 redundancies. However, the Marketplace is performing well with significant interest from dealers, and administrators are hopeful for a sale in the coming weeks to preserve remaining jobs.
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