NCP, a longstanding car park operator, is facing potential closure of numerous locations as the company enters administration, marking the end of its 95-year history. The administration process is being handled by PricewaterhouseCoopers (PwC), who stated their intention to stabilize the business and explore future options, which may include a sale. While all car parks are currently operational and staff are retained, NCP’s challenging trading environment, changing consumer behaviors, and high fixed costs have led to trading losses.

The joint administrator and PwC partner, Zelf Hussain, highlighted the ongoing struggles NCP has faced due to declining demand and structural losses. Efforts to boost revenue through new developments and cost-cutting measures have not been sufficient to offset the financial difficulties. The company, which employs 682 individuals, will engage with various stakeholders, including landlords and employees, to seek the best outcome, potentially involving the sale of all or part of the business.

Numerous cities across the UK host NCP car parks, such as Belfast, Kent, Scarborough, Wakefield, Wolverhampton, Hove, Worthing, Coventry, Cardiff, Newport, Swansea, London, Brighton, Worcester, Stoke on Trent, Stockport, Crawley, Wimborne, Bournemouth, Leamington Spa, Bristol, Lewes, Eastbourne, Epsom, Bromley, and Manchester, among others.

The company’s efforts to address financial challenges have been ongoing, with considerations for restructuring and potential closures to address the persisting structural losses. Despite these efforts, the future of NCP remains uncertain as administrators navigate the insolvency process to secure the best possible outcome for all involved.