Former tech darling Cazoo crashes into administration
Cazoo, the British online car retailer once-valued at well over £5bn, will crash into administration on Tuesday.
Sky News understands that insolvency practitioners from Teneo will be formally appointed just over a week after Cazoo filed to seek temporary protection from creditors.
More than 700 people have already lost their jobs as a result of the crisis at Cazoo, with the administrators expected to retain a number of staff to operate the remaining marketplace model while they explore a sale.
Motor industry sources said the entry into administration would allow Teneo to focus on a sale, with the marketplace model having drawn interest from a number of potential suitors.
On Monday, the group’s wholesale arm was sold to G3, another industry player, with Constellation Automotive, the owner of Cazoo’s rival, Cinch, also having acquired a number of assets from the stricken New York-listed company.
One industry source said that among the parties potentially interested in Cazoo’s marketplace, including its brand, were BMW, Motorpoint and Car Gurus.
Motors.co.uk, a privately owned used-car platform, also remains among the field of prospective buyers.
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Cazoo was founded in 2018 by Alex Chesterman, the successful entrepreneur behind Zoopla, the property portal.
It raised several tranches of funding at ever-higher valuations before making its stock exchange debut in 2021, when investors ascribed a valuation of $8bn to it.
Cazoo spent tens of millions of pounds on sponsorship deals in football, snooker and darts in a rapid attempt to gain market share.
Among the assets which have been sold in recent weeks include its vehicle fleet, which sources said had been achieved at higher-than-anticipated values, reflecting a current shortage of used cars in the market.
One industry source said the pivot to a platform model had seen its inventory rise to more than 15,000 cars, with Cazoo now the only online vehicle marketplace where consumers can buy and sell cars under a single brand.
Mr Chesterman left the business several months ago in the wake of a balance sheet restructuring which saw hundreds of millions of dollars of debt converted to equity.
The entry into administration comes after a further wave of restructuring of its balance sheet and operations.
Cazoo declined to comment on Tuesday but had said last week: “Our new marketplace model, where consumers can both buy and sell cars, is revenue generating and performing ahead of expectations with interest from almost 100 car dealers including many household names wishing to trade on the Cazoo platform.”
The company added that it had “successfully restructured and significantly reduced the cash burn of the group”.
Teneo declined to comment.
A US vaccine firm has opened the first mRNA manufacturing plant in the UK, against a backdrop of increasing anti-jab rhetoric back home.
The new facility outside Oxford is part of a £1bn investment in the UK by Moderna, which specialises in mRNA.
The novel vaccine technology delivered some of the most effective and fastest-to-develop jabs during the COVID pandemic.
Several pharma companies, including Germany’s leading mRNA pioneer BioNTech, are now racing to develop new therapies.
Moderna says the plant will produce up to 100 million doses of its existing vaccine products each year. It has also been designed to scale-up production to 250 million doses a year in the event of a new disease outbreak.
“God-forbid, if there is another pandemic, we can switch the facility any day,” said Moderna CEO Stephane Bancel.
The UK investment deal was agreed by the previous government, but the plant’s opening is welcome relief for the current one.
In recent weeks, four major pharmaceutical companies have halted planned investments in the UK following disputes over drug pricing and profitability in the UK.
‘A great statement’
It also promises to restore domestic vaccine manufacturing capability in the UK, the lack of which was exposed when dangerous supply interruptions threatened the early COVID response.
“It’s a really fast way of getting new vaccines discovered,” said Lord Patrick Vallance, former chief scientist and now science minister.
“It’s also a great statement of confidence in the UK that [Moderna has] chosen to base themselves here.”
Health Secretary Wes Streeting attended the opening
Moderna: UK ‘still believes’ in vaccines
The mRNA molecule is the same used by our cells to order the production of new proteins, and allows vaccines to be produced using just the genetic code of a virus or other biological target.
Moderna’s investment decision pre-dated Donald Trump’s return to the White House, but the Moderna CEO said its operation in the UK – a country that “still believes in vaccination” – may pay dividends if anti-vaccine rhetoric translates into a lack of demand for its products in the US.
“If there is less appetite by governments around the world, including in the US, to use vaccines, we might invest less in vaccines,” said Mr Bancel.
“We have to invest where there’s a demand for our products.”
Read more: All health claims made by Trump – and what experts say
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The UK presents other attractions for the company which has suffered substantial losses as demand for its COVID vaccine has fallen.
It’s betting that leading UK universities and a large patient population will make for successful clinical trials.
The company has ongoing NHS trials of new jabs against seasonal flu, a combination COVID and flu vaccine, cancer vaccines and mRNA therapies for two inherited childhood diseases.
Moderna says it is now the largest private commercial sponsor of clinical trials in the UK.
A shoplifter has been jailed and banned from every Boots store after stealing £107,000 worth of goods from the high street chain.
Liam Hutchinson, 32, of no fixed address, was sentenced to a year in prison at Westminster Magistrates’ Court on Wednesday.
He was also issued with a criminal behaviour order, banning him from every Boots store in the UK for 10 years – and the London borough of Kensington and Chelsea for five years.
Metropolitan Police detectives trawled through hours of CCTV footage to find that Hutchinson had committed 99 shoplifting offences at Boots stores in the borough between May and August 2025.
Hutchinson stealing from shelves in Boots on CCTV. Pic: Met Police
Often stealing large quantities of razors and electrical items, his crimes cost the retailer £107,000 in revenue, Sergeant Jack Vine, of the Met’s volume crime team said.
“We recognised the impact Hutchinson’s actions were having on the retailer, and through working with staff, we built a strong case of evidence against him, which has been reflected in his sentencing,” he added.
“This result should act as a warning that this type of behaviour will not be tolerated, and that we will come down hard on those who show a complete disregard for the law, terrorise retail workers and cost businesses thousands of pounds.”
Liam Hutchinson being caught by officers in bodycam footage. Pic: Met Police
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Nicky Harrop, head of security, fraud, and contract management at Boots, said the company have been investing “significantly” in anti-theft measures to make sure stores “remain a safe and respectful environment” for customers and staff.
The Met says it is prioritising shoplifting, having solved 163% more cases in London compared to the same time last year.
It is also dedicating up to 80 additional officers across London’s West End, with 90 more in high-risk theft areas.
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