Cazoo (CZOO) has released an update.
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Cazoo Group Ltd, the parent company of online car retailer Cazoo Ltd, is entering voluntary liquidation and has appointed Joint Administrators for its subsidiaries. Despite transitioning to a Marketplace model and reducing cash burn, the move has resulted in 728 redundancies. However, the Marketplace is performing well with significant interest from dealers, and administrators are hopeful for a sale in the coming weeks to preserve remaining jobs.
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