Online car dealer Cazoo collapses into administration putting 200 jobs at risk

UK-based used-car website once valued at £6bn is now looking for a buyer for its remaining assets

The online car dealer Cazoo which was once valued at $8bn (£6.3bn) has collapsed into administration, putting 200 jobs at risk.

Administrators at Teneo have been appointed to the business, which was founded by Alex Chesterman, the serial entrepreneur who also launched property site Zoopla and Netflix forerunner LoveFilm.