Cazoo Enters Administration Following Major Restructuring

Once valued at over £5bn, the online car retailer faces insolvency, impacting over 200 jobs and attracting interest from potential buyers.

Cazoo has appointed Teneo as administrators after failing to secure new funding.
The company has already cut more than 700 jobs this year and shifted to a marketplace model.
Assets, including its vehicle fleet, have been sold to various competitors to generate value for creditors.
Potential buyers for the remaining business include BMW, Motorpoint, Car Gurus, and Motors.co.uk.
Founder Alex Chesterman stepped down last year amid significant financial restructuring.