On line and later on-site car dealer Cazoo collapsed with over £250M of debt just over 12 months ago and owed money to about 10,000 creditors, according to data at Companies House, Cardiff.
The business was sold for £5M last year after filings showed it had been under financed and overstretched itself and was hit by the Covid-crisi and a change in market conditions. Hundreds lost their jobs when it folded and administrators have wracked up about £9M in payments sorting out the failed busines which was headquartered in the Cayman Islands tax haven.
BMW, Toyota and Kia were the top brands in a survey by Car Dealer magazine this spring.
One time leader Ford has crashed to the bottom, with sales staff blaming the car maker’s lack of forward planning for disastrous sales performance.
