NCP Enters Administration, Putting 340 UK Car Parks and 700 Jobs at Risk

Overview

• NCP’s collapse was reported Thursday, confirming the company is in administration with 340 sites at risk of closure.
• A creditors’ meeting scheduled for Wednesday, 20 May, will set the next steps for the business.
• PricewaterhouseCoopers is overseeing the process, with Zelf Hussain, Rachael Maria Wilkinson and Mark James Tobias Banfield appointed as administrators.
• The operator runs more than 300 UK car parks and employs about 700 people, leaving staff and motorists facing uncertainty over access and service.
• An update to proposals dated 1 May approved unpaid pre-administration costs to be paid as administration expenses, and the company has been owned by Japan’s Park24 since 2017.