US Edition
Published • loading... • Updated
NCP Enters Administration with 20 Sites Scheduled to Close and 33 Jobs Lost
Administrators cited 20 unprofitable sites for closure, leading to 33 job losses amid a 7.15% revenue drop to £187 million in 2023, affecting city and airport locations.
- National Car Parks Limited entered administration on Monday, March 16, with joint administrators from PwC identifying 22 sites as "no longer commercially viable to operate." These locations will close at 11:59pm on Friday, March 27.
- A post-Covid slump in parking demand never fully recovered, compounded by the rise in flexible working. Bosses cited "insufficient cash available to meet its financial obligations" as the reason for appointing administrators.
- While the company manages 340 sites across the UK, 318 other sites will remain open. The firm employs 682 people, but 33 employees will be made redundant on March 31.
Insights by Ground AI
30 Articles
30 Articles
The Herald Scotland+2 Reposted by 2 other sources
UK's biggest car park firm collapses with 22 sites set to shut
The UK's biggest private car park operator has collapsed into administration after 95 years.
·Scotland, United Kingdom
Read Full Article
Worcester News+13 Reposted by 13 other sources
National Car Parks (NCP) confirms over 20 car parks will close for good
National Car Parks (NCP) has confirmed that over 20 of its car parks will close for good.
·Worcester, United Kingdom
Read Full Article
Coverage Details
Total News Sources30
Leaning Left2Leaning Right4Center18Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
C 75%
R 17%
Factuality
To view factuality data please Upgrade to Premium
