Cazoo shares down after warning of business realignment charges

Cazoo

09/06/2022 15:08

** Shares of European online car retailer Cazoo Group Ltd
 CZOO.N  down 4.8% at $1.19 in morning trade 
    ** CZOO expects to incur charges on the implementation on
business realignment plan in results for six months ended June
30  urn:newsml:reuters.com:*:nFWN2XW0CR 
    ** Co says amount of charges yet to be determined 
    ** The retailer said on Tuesday it would cut its workforce
by about 15% as it looks to conserve cash amid rising inflation
and interest rates as well as supply-chain issues  urn:newsml:reuters.com:*:nL4N2XU28F 
     ** Up to Wednesday's close, stock had fallen 79.3% YTD

 (Reporting by Aishwarya Nair in Bengaluru)