Cazoo was different to other more traditional car dealers - it was a tech business trying to shake ... There's nothing new in the model that they developed," he told the BBC's Today programme.

“The marketplace model is performing ahead of ... us with an opportunity to secure a sale of the business over the course of coming weeks.” Cazoo launched its dramatic restructuring in March ...

However, in March it announced it would be changing its business model, selling off its stock of vehicles and changing into a purely online marketplace, similar to Autotrader. At the time ...

Cazoo said it had sold off its remaining stock and switched to an online marketplace model, allowing car dealers to list their own stock on its platform. It also wound down its European business.