Cazoo collapsed into administration last month after shedding hundreds of jobs – but now secondhand car site Motors is set to give the brand a new lease of life
Secondhand car marketplace, Motors, is set to revive the Cazoo brand after its rival fell into administration last month, following a drastic restructuring that resulted in hundreds of job losses.
Motors has announced it has acquired the brand and unveiled plans to launch a new Cazoo app and website. Cazoo, once valued at around £5billion, appointed administrators in May after falling into financial difficulty. The company cut more than 700 jobs since March as part of extensive cost-cutting measures.
Founded in the UK in 2018 by entrepreneur Alex Chesterman, also the founder of property portal Zoopla. Barry Judge, the chief executive of Motors, said: “Despite its challenges as a business, Cazoo has undoubtedly become a household name with car buyers. We have the expertise and inventory to immediately establish the new Cazoo site as a modern marketplace for used cars.”
Motors revealed plans to launch the new app, followed by the website, in the coming weeks. The site is expected to feature more than 250,000 secondhand car listings. Currently, visitors to the Cazoo website are automatically redirected to Motors to shop for cars.
Motors, a platform connecting car buyers and dealers, confirmed its own website would continue to operate as usual and through its network of sites, including marketplaces eBay and Gumtree. Its dealer partners will be able to start listing cars on Cazoo, which benefits from being a well-known brand, it said.
