Australian used-car retailer OzCar has entered voluntary administration, with 90 employees made redundant and four company-owned dealerships closed immediately.
Glen Kanevsky and Jason Tracy of restructuring firm Alvarez & Marsal have been appointed as voluntary administrators by the company’s secured creditor.
The closures affect company-owned sites in Lansvale, Penrith, Cardiff and Gosford, all in New South Wales.
OzCar sells used vehicles through company-owned dealerships and independently operated franchises.
Its 12 independently owned franchise dealerships will continue trading while…