G3 Vehicle Auctions to invest ‘seven figures’ following Cazoo Wholesale acquisition

G3 Vehicle Auctions is planning a ‘seven figure investment’ over the next 12 months to create a new 30,000 vehicle volume auction facility in Bedford following its Cazoo Wholesale acquisition for an undisclosed sum.

The team at G3 said it has “acted swiftly” to secure the former Cazoo premises, land and existing remarketing team, along with other software assets.

Cazoo called in administrators from Teneo Financial Advisory earlier this week despite the company's actions to restructure in 2023, including hundreds of redundancies and sell-offs of businesses Cazoo had acquired during its rapid growth phase.