Cazoo bondholders have agreed to swap the debt they own for shares in the online car dealer.
AutoTrader has been ranked the most popular search term within the online automotive marketplace, capturing 66% of all searches over the last 12 months, according to comparison website Uswitch.
The restructuring agreement announced by online car dealer Cazoo this week to “deleverage” its capital structure and further improve its “financial flexibility” won't yet smooth its investors' journey, and stakeholders should "buckle up" according to one expert.
Lloyd Motor Group has acquired the former Cazoo dealership premises on Scotswood Road, Newcastle
Investors in online car dealer Cazoo are still having to wait for share price growth despite its announcement this month that its gross profit on every car sold is almost four times higher than it was achieving during the first half of 2022.
Cazoo has said its plan to control costs and improve its margins on used car sales is “coming together” in its latest performance update to the market.
Used car retailer Cazoo reported a 690% year-on-year growth of gross profit per unit and overall gross profits up 367% to £14 million in Q1 as its CEO asserted that its sweeping restructure was starting to “bear fruit”.
Peter Vardy has celebrated a five-star start to sales from the newest addition to its Carz used car retail division – the former Cazoo handover centre at Grangemouth.
Cazoo founder Alex Chesterman said he was “incredibly proud of everything the team at Cazoo has achieved” in a financial results statement that revealed the online used car retailer’s £704 million losses for 2022.
Staff at Cazoo’s former SMH Fleet Solutions (SMH) used car refurbishment centre in Gloucester lamented the loss of the sprawling automotive business as it prepared to close its doors for the last time today.
Cazoo has announced the appointment of former CarShop chief executive Jonathan Dunkley as chief operating officer in a trading update published today (March 7).
Cazoo has removed 15 of its 22 used car handover centres from its website after staff were informed that a series of planned closures would be going ahead.
Arnold Clark has continued to grow a “healthy freehold property portfolio” with the acquisition of two Cazoo vehicle handover sites.
Cazoo has completed the disposal of the used car data insights platform Cazana for an undisclosed sum just over 17 months after acquiring the business for £25 million.
Cazoo has completed a ‘reverse stock split’ process to merge its share capital in bid to boost trading values on the New York Stock Exchange (NYSE).
Cazoo plans to close sites and axe jobs in the UK as part of a ‘Revised 2023 plan’ following its 2022 exit from used car markets on the European mainland.
The New York Stock Exchange (NYSE) has begun the process of de-listing warrants for online car retailer Cazoo as a result of “abnormally low” price levels.
Former Imperial Cars operations director and Cazoo retail operations director, Neil Smith has partnered with Autofinity.
The Stellantis-owned used car retail business Aramis Group has acquired Cazoo’s Italian operations as the online retailer continues its withdrawal from Europe to focus on cost savings and the UK market.
