UK’s biggest car park giant on brink of collapse – hundreds of jobs at risk

NCP, which runs some 300 car parks nationwide, is on the brink of collapse.

The UK’s biggest car park giant is on the edge of collapse – with hundreds of jobs at risk. NCP, which runs some 300 car parks nationwide, is on the brink of collapse.

The car park operator, which employs around 700 people, filed a Notice of Intention to Appoint Administrators for its UK business on Monday. NCP is reportedly in serious financial trouble.

The company has filed paperwork that could be the first step towards going into administration. PricewaterhouseCoopers is lined up to handle the potential insolvency process.

Since August 2017, NCP is owned by Park24, a listed Japanese company. Prior to this, NCP was successfully managed by Macquarie European Infrastructure Fund 2 for 10 years.

Park24 is the majority owner based in Tokyo and is a major parking operator with an eye-watering and jaw-dropping 1,043,570 spaces in over 19,000 sites, across 8 countries.

DBJ, co-investor alongside Park24 and a Japanese government-owned financial institution, is a sophisticated private equity investor who also has a strong track record in infrastructure finance.

NCP says it has a “huge estate throughout the entirety of the UK, which allows our customers a fantastic amount of choice when it comes to finding their parking solution.”

“We currently have over 200,000 parking spaces in over 800 sites,” the car park operator says on its website.

The firm adds: “Our colleagues are professional and helpful. They really care about delivering great customer service. Customer care is at the forefront of what we do, reflected with our 24/7 Customer Contact Centre.

“The NCP App allows customers a seamless journey from start to finish. The NCP App combines your daily parking along with Season Ticket access in one convenient place.

“We offer a wide range of Season Tickets, this includes Flexible Business Parking, Corporate Season Tickets and 3-Day Season Tickets.”