Shareholders in New York Stock Exchange listed Cazoo Group are to be asked to give approval for a voluntary winding up and liquidation of the company.
In a letter from its chief financial officer Gareth Purnell they are told it is likely they will get nothing for their shareholdings.
Cazoo Group, which is registered in the Cayman Islands tax haven, has invited shareholders to an extraordinary general meeting on July 2 to vote on its proposal got s voluntary winding up of the company and to appoint Teneo's David Soden and Neema Griffin as joint voluntary liquidators.
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An award-winning journalist and editor, with two decades of experience covering the motor retail industry, and accredited by the Institute of Leadership and Management (ILM) plus the National Council for the Training of Journalist (NCTJ)
As editor of AM since 2016, Tim is responsible for its media content, planning and production across AM's multiple channels, including the website, digital reports, webinars, social media and the editorial content of AM's events, Automotive Management Live and the AM Awards. His focus is on interviewing senior leaders of franchised dealer groups and motor manufacturer national sales companies to examine latest developments in UK motor retail.
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