Brief: Cazoo Group Says Each Of Cazoo Holdings Limited, Cazoo Ltd, And Cazoo Properties Limited Filed For Administration In United Kingdom

Cazoo

21/05/2024 14:34

May 21 (Reuters) - Cazoo Group Ltd  CZOO.N :
    * CAZOO GROUP LTD: EACH OF CAZOO HOLDINGS LIMITED, CAZOO
LTD, AND
CAZOO PROPERTIES LIMITED FILED FOR ADMINISTRATION IN UNITED
KINGDOM
    * CAZOO GROUP: MATTHEW MAWHINNEY, DAVID SODEN OF TENEO
FINANCIAL
ADVISORY LIMITED APPOINTED AS JOINT ADMINISTRATORS
    * CAZOO: JOINT ADMINISTRATORS WILL CONTINUE TO PURSUE SALE
OF
REMAINING ASSETS OF ADMINISTRATION COMPANIES
    * CAZOO GROUP LTD: JOINT ADMINISTRATORS WILL MANAGE AFFAIRS,
BUSINESS AND PROPERTY OF ADMINISTRATION COMPANIES
    * CAZOO GROUP LTD: ASSETS OF SOME VEHICLE REPAIR CENTERS AND
CUSTOMER COLLECTION CENTERS, AS WELL AS WHOLESALE DIVISION, HAVE
BEEN SOLD
    * CAZOO GROUP LTD: STILL WOULD NEED TO RAISE ADDITIONAL
CAPITAL IN
FUTURE IN ORDER TO CONTINUE AS A GOING CONCERN IN MEDIUM- TO
LONG-TERM
    * CAZOO: CASH POSITION IN EXCESS OF £98 MILLION AT MAY 13
VERSUS
£113 MILLION AT DECEMBER 31, 2023
    * CAZOO GROUP LTD: BEST INTERESTS OF COMPANY AND ITS
STAKEHOLDERS
TO COMMENCE WINDING UP OF COMPANY

Source text for Eikon:  ID:n0001213900-24-045404 
Further company coverage:  CZOO.N 

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