Cazoo has completed its debt restructuring programme and announced a new board. Under the restructuring bondholders agreed to swop the debt they own for shares in the company.
Paul Whitehead, CEO said: I am delighted that we have now completed these transactions.
Cazoo launched only four years ago this week and has already sold almost 150,000 cars entirely online to consumers across the UK.
On behalf of the Company, Id like to thank Alex Chesterman and the other retiring board members for their service and guidance since our foundation.
Completion of these transactions represents a significant inflection point for Cazoo.
I and the management team welcome the opportunity to work with the new board to deliver continued progress against …
Read the full article at: https://www.motortrader.com/motor-trader-news/automotive-news/cazoo-completes-restructuring-programme-gets-new-board-08-12-2023