Cazoo Group Ltd

CZOO

Market cap $29.5M

Cazoo Group Ltd (NYSE:CZOO), a UK-based used car retailer, is taking steps toward entering administration as it works to save the embattled business, a filing with the US Securities and Exchange Commission (SEC) has revealed. After the company failed to secure emergency funding, Cazoo said in the SEC filing three of its UK subsidiaries had filed notices of intent to appoint administrators, providing a moratorium on creditors launching claims against the company for 10 days and giving it this time to stage a final attempt to save the business.

Cazoo Group Ltd opened about 30% up today after going live as a marketplace.  Cazoo to go up against CarGurus and Auto Trader There are a total of about 12,000 cars listed on the platform as of Wednesday.

Cazoo (NYSE: CZOO) stock price was one of the top performers in Wall Street on Wednesday. The shares surged by more than 75%, its best day since going public a few years ago.

Shares of online car retailer Cazoo (NYSE: CZOO ) have been flying higher since the midweek session, likely on speculation tied to the company's tiny float. As a result, the operator of the New York Stock Exchange halted trading multiple times on Thursday.

LONDON & NEW YORK--(BUSINESS WIRE)--Cazoo Group Ltd (NYSE: CZOO) (“Cazoo” or “the Company”), the UK online used car platform which makes buying and selling a car as simple as ordering any other product online, announces its intention to transition to a marketplace business model, leveraging the strength of the Cazoo brand and the market-leading ecommerce platform it has built in online automotive retailing for the benefit of the 13,000 car dealers operating in the UK's highly fragmented used ca.

The most oversold stocks in the consumer discretionary sector presents an opportunity to buy into undervalued companies.

The most oversold stocks in the consumer discretionary sector presents an opportunity to buy into undervalued companies.

The year 2023 has primarily been marked by economic uncertainty coupled with geopolitical tensions, impacting various investments, such as stocks.

British online car retailer Cazoo Group Ltd (NYSE:CZOO) has warned that it may run out of cash by the second half of 2024 unless it succeeds in raising additional capital. Cazoo sounded the alarm bell in a Monday filing with the US regulators, shortly after the New York-listed group announced a debt restructuring that reduced its debt from $630 million to $200 million.

LONDON & NEW YORK--(BUSINESS WIRE)--Cazoo Group Ltd (NYSE: CZOO) (“Cazoo” or “the Company”), the UK online used car retailer, which makes buying and selling a car as simple as ordering any other product online, announces today the completion of its restructuring transactions (the “Transactions”) on December 6, 2023. The Transactions significantly de-levered the Company through the exchange of $630 million aggregate principal amount of 2.00% Convertible Senior Notes due 2027 for a pro rata porti.