Five steps to get a better deal on your next car
Credit: GettyIn 2021 it was valued at £5bn on the New York Stock Exchange, but that has now dropped to £24million.In a statement to the Securities and Exchange Commission in the US today, Cazoo Group said that notices of intention to appoint administrators had been filed with the High Court.
Cazoo also sold off its remaining stock and switched to an online marketplace model, which allowed other car dealers to list their products.A spokesperson for Cazoo told The Sun: "This marks the latest step in the planned restructuring of Cazoo which began at the end of last year. "We are making efforts to secure the next phase of our business and are grateful to our employees for their hard work and commitment.“Cazoo became one of the top most recognised UK automotive brands and sponsored snooker and dart tours... what went wrong?The following year Cazoo signed partnership agreements with BCA and acquired office space, resulting in more funding.
The pandemic was both a blessing and curse for the company as in 2020 the firm was forced to stop deliveries due to social distancing rules.In April 2020 Cazoo restarted deliveries and targeted keyworkers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Major car brand offering £20 worth of free parking to Brits this bank holidayWorst day to travel this bank holiday
Read more »
HMRC warning as Brits could be owed £689 due to major tax errorNew research has found that almost one third of UK adults who have checked their tax code were on the wrong one - and it could mean you are owed money back from HMRC
Read more »
Brits warned of major change when entering EU countries later this yearThere are growing concerns that it could lead to huge delays at airports
Read more »
Working parents given five day warning ahead of major change to free childcareFrom 12 May, working parents of children aged nine months and up can apply for 15 hours of government-funded childcare
Read more »
Five MotoGP teams that could undergo major changes for 2025With only six riders so far confirmed on the 2025 MotoGP grid and three satellite teams out of contract with their current manufacturers, there could be some big changes for next season.
Read more »
Five DWP benefit changes explained after major government announcementCharities have called the crackdown 'dangerous'
Read more »