NCP has collapsed.
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National Car Parks operate about 340 locations with nearly 700 employees but has seen income fail to keep ahead of rising costs for the business.
The administrator, PwC, said demand for parking had not recovered to pre-Covid levels, pointing to “shifts in commuting and customer driving patterns”.
It said after consistently losing money, NCP could no longer afford to pay its creditors and was unable to scrap “long-term, inflexible” leases on loss-making sites.
PwC is looking to sell the business as the “best outcome” for those NCP owes money to. “All sites are open, staff remain in post, and trading continues as normal,” PwC added.
