NCP Enters Administration With 340 Car Parks at Risk

Overview

• NCP, which entered administration Thursday, put 340 UK car parks and about 700 jobs at risk.
• PricewaterhouseCoopers is running the process and named Zelf Hussain, Rachael Maria Wilkinson and Mark James Tobias Banfield as administrators.
• A creditors’ meeting on 20 May will decide the company’s immediate future.
• Administrators’ proposals filed on 1 May approved payment of unpaid pre-administration costs as administration expenses, allowing some bills for earlier work to be settled.
• The operator runs more than 300 sites nationwide and was bought by Japan’s Park24 in 2017, so any closures could affect parking in town and city centres, airports and stations.