Cazoo preparing to enter administration as car retailer attempts to avoid collapse

Cazoo Group Ltd (Cazoo) is a United Kingdom-based independent online car retailer. The Company allows customers to buy, sell, finance to a car entirely online for delivery or collection. The Company's end-to-end digital platform offers customers in the United Kingdom a choice of used vehicles of different makes and models for acquisition, and to sell their car without an obligation to buy a car from the Company. Other options available to the customer include part-exchanging their vehicle as a form of partial payment for a Cazoo car, as well as options to finance a car purchase. The Company acquires its used vehicle inventory from a variety of sources, including used-car auctions, corporate suppliers such as vehicle finance, leasing, and rental companies, as well as directly from consumers. It works with partners such as Black Horse, BNP Paribas, Santander and Evolution Funding (a broker with a panel of different lenders) to offer its customers the ability to finance their Cazoo car.