NCP Enters Administration After 95 Years in Business
Hundreds of car parks across the United Kingdom are facing potential closure as the long-standing parking operator NCP has officially entered administration. This move comes after an impressive 95 years in business, casting a shadow over the future of numerous parking facilities nationwide and putting nearly 700 jobs at significant risk.
Administration Process and Immediate Impact
The firm announced its entry into administration, with PricewaterhouseCoopers (PwC) appointed to oversee the potential insolvency proceedings. PwC has stated that immediate steps will be taken to stabilise the business while evaluating all available options for its future, which may include a full or partial sale. For the time being, all NCP car parks will remain operational, and staff will continue in their roles as the assessment unfolds.
NCP, founded in 1931 and easily recognisable by its distinctive black and yellow signage in town centres, employs a total of 682 people. The company has been a familiar fixture in urban landscapes for decades, but recent challenges have led to this critical juncture.
Challenges Leading to Administration
Zelf Hussain, a joint administrator and partner at PwC, highlighted the difficulties NCP has faced. "NCP has encountered a challenging trading environment over several years, with evolving consumer behaviours negatively impacting transaction volumes, and a high fixed cost-base resulting in sustained trading losses," he explained.
He further added, "We will be engaging with landlords, employees, and other key stakeholders as we explore all avenues, including the potential sale of all or part of the business, to secure the best possible outcome for creditors."
Park24, associated with NCP, noted that despite efforts to address declining demand, the company's "structural losses" persisted. "NCP pursued new car park developments to bolster revenue growth, while simultaneously implementing cost-reduction measures such as workforce restructuring," the statement read.
List of Car Parks at Risk of Closure
The administration puts numerous NCP car parks across the UK at risk of closure. Below is a comprehensive list of locations that could be affected:
- Belfast: Montgomery Street, The Tannery, Gloucester Street, Dublin Road, Charlotte Street, Seymour Row, Cromac Quay, Lanyon Terrace, Hardcastle Street
- Kent: Maidstone Manor Road, Gillingham Trafalgar Street, Ashford Country Square, Maidstone Central, Folkestone Bouverie Place, Bexleyheath Royal Oak Road, Folkestone West Cliff Gardens
- Scarborough: Balmoral, Queens Parade
- Wakefield: Balne Lane
- Wolverhampton: Pipers Road, Fryer Street
- Hove: Portland Road
- Worthing: Bedford Row
- Coventry: Belgrade Plaza
- Cardiff: Knox Road, Dumfries Place, Greyfriars, Rapports, Pellett Street, Westgate Street, Adam Street, Park Place, The Friary, Cardiff Stadium
- Newport: High Street, North Street, St Paul’s
- Swansea: Orchard Street, Kingsway, The City Gates, Northampton Lane, Jockey Street
- London: Bloomsbury Square, Brunswick Square, Knightsbridge, Finsbury Square, King’s Cross St Pancras, Harley Street, London Bridge, Marylebone Road, Richmond Station, Saffron Hill, Vintry Thames Exchange, Whitechapel High St, Covent Garden, Soho Brewer Street, Vintry Thames, Thomas Moore Square, Seldon, Richmond, Southwark Glasshill Street, Barbican, North Ealing Queens Parade
- Brighton: Theatre Centre Russell Road, Phoenix Place, Churchill 1, High Street, The Dome
- Worcester: Cathedral Square
- Stoke on Trent: Meigh Street, Glass Street, Sampson Street, Hulton Street
- Stockport: Railway Road, Great Underbank, Exchange, Piccadilly, Station Road, Duke Street
- Crawley: Parkside, Cross Keys, Kingsland Court
- Wimborne: Redcotts Lane
- Bournemouth: Durley Road
- Leamington Spa: West Street
- Bristol: Broadmead, Rupert Street, Nelson Street, St James Barton, Baldwin Street, Redcliffe Parade, Avon Street
- Lewes: Eastgate, Court Road
- Eastbourne: Trinity Place
- Epsom: High Street, Ebbisham Centre
- Bromley: The Mall
- Manchester: Central, Chester Street, Chorlton Street, Circle Square, Oxford Street, Palace, Piccadilly Plaza, Spinningfields, Great Northern Warehouse, Store Street, Sackville Street, Manchester Place, Gould Street, Jersey Street, Great Northern Warehouse 2, Upper Brook Street
- Leicester: Abbey Street, East Street, Lee Circle, Rutland Centre, St Nicholas Circle, Welford Road, Yeoman Street, Burnmoor Street, St Augustine Road, Garden Street, Orchard Street, Blackfriars Street
- Preston: Boltons Court, Manchester Road, Laurel Street, Church Street, Christian Road
- Blackpool: Lancaster Apartments, 281 Promenade, Delton Hotel, Lancaster, Dallas Road, Royal Blackburn Teaching Hospital
- Birmingham: High Street, New Street, Newhall Street, Royal Angus, Londonderry, Bow Street, City Centre, Birmingham Airport, Gough Street, Edward Street, Henrietta Street, Birmingham Airport 1, Birmingham Airport 2
- Newcastle: John Dobson Street, St John Street, North Street, Queens Lane 1, Riverside, Quayside, Fenkle Street, Huntsmoor House, Stoddart Street, Gosforth Lansdowne Terrace
- Derby: Babington Lane, Siddals Road, St Peters Courtyard, Mansfield Road, Macklin Street, Wilson Street, Leopold Street, Royal Scot Road
- Huddersfield: Colne Road East/West, Fitzwilliam Street
- Liverpool: Capital, Pall Mall, Princes Road, Moorfields, Rumford Street, Tithebarn Street, Kitchen Street, Royal Liverpool University, Tempest Hey, Highfield Street, Primrose Hill, The Arches, Hackins Hey
- Middlesbrough: Fry Street, Middlesbrough Station
- Durham: Lambton Street, Sidegate
- Leeds: The Core, The Markets, Bedford Street, Wellington Place, Lovell Park Hill, Water Lane
- York: Tanner Row, York Station South, Piccadilly, Toft Green
- Sheffield: Wellington Street, Sidney Street, Central, Campo Lane, Furnival Gate, Blonk Street, Eyre Street, Fitzwilliam Street, Solly Street, Bowden Street
- Bradford: Southgate
- Bolton: Deane Road, St Edmund Street, Central Street, Ashburner Street, Blackhorse Street, Dawes Street, King Street, Topp Way, The Octagon Theatre, Back Cheapside, Upper Bark Street, Chorley Street
- Sunderland: High Street
- Salford: New Bailey, Stanley Street
- Doncaster: Central, East Laith Gate, Odeon
- Portsmouth: Dugald Drummond Street, Kipling Road
- Southampton: Portland Terrace
- Edinburgh: Castle Terrace, Grindlay Street Court, Holyrood Court, Bread Street Lane, St James’ Place
- Glasgow: King Street, Mitchell Street, Central Station, The Glasshouse, Glasgow Airport Car Park 2, Glasgow Airport Concourse, Glasgow Airport Holiday Inn Express, Glasgow Airport Pick Up and Drop Off, Laidlaw Street, Prestwick Mid and Long Stay, Glasgow Airport Long Stay, Glasgow Airport Short Stay, George Street, Ingram Street, Kingston Street, Laidlaw Street 2, Baillieston Main Street
- Dundee: Willison Street, Bank Street, North Lindsay Street, Candle Lane, Wallace Street, Marketgait
- Aberdeen: Shiprow, Ruby Lane, Crown Lane
The future of these locations remains uncertain as administrators work to navigate the complex situation, with the potential for widespread closures impacting local communities and commuters across the UK.
