Brief: Cazoo Group To Reduce Headcount By About 90%

Cazoo

06/03/2024 11:51

March 6 (Reuters) - Cazoo Group Ltd  CZOO.N :
    * CAZOO GROUP LTD: REDUCING HEADCOUNT BY APPROXIMATELY 90%
TO
FOCUS ON ITS ECOMMERCE TECHNOLOGY PLATFORM
    * CAZOO GROUP LTD - EXPECT TO SUBSTANTIALLY COMPLETE
WORKFORCE
REDUCTION, AS WELL AS DISPOSITION OF OUR INVENTORY, IN THE NEXT
COUPLE OF MONTHS.
    * CAZOO GROUP LTD: HAS NO FIRM COMMITMENTS FROM PROSPECTIVE
INVESTORS
    * CAZOO GROUP LTD: EXPECT CASH UTILIZATION WILL DECLINE IN
SECOND
HALF OF 2024
    * CAZOO: NO ASSURANCE THAT CO WILL BE ABLE TO RAISE FUNDS ON
TIMELY BASIS OR WILL BE SUCCESSFUL IN STRATEGIC DEAL
    * CAZOO -CONTINUES TO REVIEW STRATEGIC INITIATIVES WHICH MAY
BE
AVAILABLE, INCLUDING ASSET SALES,MERGERS, JV OR FILING FOR
ADMINISTRATION OR BANKRUPTCY

Source text for Eikon:  ID:n0001213900-24-020268 
Further company coverage:  CZOO.N 

 ((Reuters.Briefs@thomsonreuters.com;))