Cazoo calls in administrators, hundreds of staff made redundant

Administrators from Teneo Financial Advisory have been appointed by online car retailer Cazoo and have revealed that it has sold some assets to Cinch and G3 Remarketing.

The appointment of administrators closes a chapter in Cazoo's brief history, as the indebted group abandoned its business model of selling its own used cars online to become an advertising marketplace for car dealers and consumers to sell and buy their cars.

Despite actions to restructure in 2023, including hundreds of redundancies and sell-offs of businesses Cazoo had acquired during its rapid growth phase, more than 700 other employees have now been made redundant following a consultation period which ended last Friday (17th).