NCP Enters Administration: 21 Car Parks to Close Permanently
Twenty-one National Car Parks (NCP) town and city centre locations across the UK will shut their gates permanently from tomorrow, after the 95-year-old parking operator entered administration, placing 683 jobs in jeopardy. The company, one of the UK's largest with approximately 340 car parks nationwide, appointed administrators from PwC following sustained financial difficulties.
Post-Pandemic Challenges and Structural Issues
The firm cited a persistent post-Covid dip in demand for parking, which has failed to recover to historic levels, particularly in city-centre and commuter locations. "NCP's financial performance has been significantly impacted by changing commuting patterns and consumer driving habits," a company statement explained, noting these shifts have reduced occupancy rates across its portfolio.
Additionally, NCP struggled with high costs associated with long-term, inflexible leases on loss-making sites. These combined pressures led to trading losses, prompting the administration process. Administrators are now exploring all options, including the potential sale of all or part of the business, to secure its future.
Immediate Closures and Redundancies
Following an initial assessment, joint administrators Zelf Hussain, Rachael Wilkinson, and Toby Banfield of PwC identified 21 sites as commercially unviable. These locations will close to customers from 11:59 PM on March 27. "Regrettably, 31 employees will be made redundant on March 31 due to these closures," the administrators stated, confirming they will receive statutory redundancy support.
The remaining 318 NCP car parks will continue operating normally for now, with no further sites currently slated for closure. However, administrators warned they will assess the viability of each location, and additional closures may follow depending on the review's outcomes.
Full List of Closing Car Parks
The NCP car parks closing permanently from March 27 are:
- Ashford County Square, Kent
- Ashton-under-Lyne Cotton Street, Greater Manchester
- Banbury Marlborough Road, Oxfordshire
- Bexley Royal Oak Road, Greater London (Borough of Bexley)
- Birmingham Gough Street, West Midlands
- Bournemouth Hinton Road, Dorset
- Bristol Nelson Street, Bristol
- Bromley Travelodge, Greater London (Borough of Bromley)
- Cardiff Dumfries Place, South Glamorgan
- Eastbourne Trinity Place, East Sussex
- Exeter Market Street, Devon
- Grantham Station, Lincolnshire
- Hinckley Britannia Shopping Centre, Leicestershire
- Ipswich Portman Road, Suffolk
- Leicester Abbey Street, Leicestershire
- Leicester East Street, Leicestershire
- Leicester Lee Circle, Leicestershire
- Leicester Rutland Centre, Leicestershire
- London Kings Cross St Pancras, Greater London (Borough of Camden)
- London Knightsbridge, Greater London (Borough of Westminster)
- Luton Regent Street, Bedfordshire
Administrator's Statement and Future Prospects
Zelf Hussain, joint administrator and PwC partner, emphasized: "NCP has faced a challenging trading environment over several years, with evolving consumer behaviors affecting volumes and a high fixed cost-base contributing to losses. Our immediate priority is ensuring service continuity while conducting a thorough business review."
He added that administrators will engage with landlords, employees, and other stakeholders to explore all avenues, including a potential sale, to achieve the best outcome for creditors. NCP, founded in London in 1931 and currently owned by Japanese firm Park24, operates car parks in major towns, city centres, airports, hospitals, and train stations across the UK. Parking prices vary by location, with some central London sites charging up to £60 for 24 hours.
