Cazoo founder Alex Chesterman told AM that it is “too early to speculate” about a possible market floatation of the online car retail business, following publication of its 2019 annual financial results.
The investigation into fraud at Lookers has exposed a £19 million ‘black hole’ resulting from overstated supplier bonuses, fraudulent expenses claims and the inconsistent application of policies, processes and accounting standards.
Lookers expects to be hit by a temporary suspension of shares trading after conceding that its 2019 annual financial results will not be published in time for the Financial Conduct Authority’s (FCA) June 30 deadline.
Vertu Motors declared an intention to add new manufacturer partners as it grows through acquisition in a 2019 results statement following its first two days of showroom trading since the COVID-19 lockdown.
Nissan is set to close its Barcelona plant as it consolidates its European manufacturing operations in Sunderland as part of cost-saving measures designed to achieve a 5% profit margin within four years.
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