Cazoo Group LtdNYSE: CZOO

Cazoo Group Ltd (NYSE:CZOO), the secondhand car site which fell into administration in May, is closing in on restoring its app and website after the brand was bought by a rival. Motors, the fellow secondhand care selling platform, said it purchased the brand and is planning on re-launching a new app and website for it.

Cazoo Group Ltd (NYSE:CZOO) brand and marketplace arm is on the verge of being sold to privately owned Motors.co.uk, according to reports over the weekend. The online car dealer and former SPAC crashed spectacularly into administration last month having been valued at more than US$8bn when it initially floated in the US.

NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the Class A ordinary shares of Cazoo Group Ltd (the “Company”) — ticker symbol CZOO — from the NYSE. Trading in the Company's Class A ordinary shares will be suspended immediately. NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to NYSE Listed Company Manual Section 802.

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.

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

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.

Motorway, the online car dealership controlled by billionaire entrepreneur Alex Chesterman, saw losses triple in 2022 to £ 43.6 million and outstripped growth in revenues for the year even though these doubled. Staff recruitment, increased marketing spending and building brand awareness generally were all blamed for a surge in costs.

Cazoo (CZOO) enters a restructuring deal, which entails the cancellation of $630 million of convertible notes in exchange for $200 million of new senior secured debt and new equity.

Cazoo Group Ltd. (NYSE:CZOO ) Q2 2023 Earnings Conference Call August 1, 2023 8:00 AM ET Company Participants Anna Gavrilova - IR Paul Whitehead - CEO Paul Woolf - CFO Alexander Chesterman - Founder and Executive Chairman Conference Call Participants Rajat Gupta - JPMorgan Operator Greetings, and welcome to the Cazoo Second Quarter and First Half 2023 Earnings Conference Call.