Mon, 16 Mar 2026 | ADMINISTRATION
National Car Parks Limited, one of the largest car park operators in the UK, has fallen into administration. The company’s collapse comes in the wake of major shifts in customer driving patterns, particularly since the COVID-19 pandemic.
NCP manages approximately 340 car parks across the UK, including in major city and town centres, airports, transport hubs and hospitals, and employs 682 staff.
However, the company’s performance has deteriorated over recent years, with demand for parking not recovering to historic levels following the COVID-19 pandemic, particularly in city-centre and commuter locations.
Site occupancy has been hit by significant changes in commuting and customer driving patterns, while the company has also been affected by long-term, inflexible leases that have left it unable to reduce costs in line with revenue or to exit loss-making sites.
In the year to September 30 2023, the company reported turnover of £186.6 million, up from £173 million a year earlier. However, its pre-tax losses for the year increased from £22.5 million to £28.2 million.
Directors decided to appoint administrators when the company’s cash levels became insufficient to meet its financial obligations. Zelf Hussain, Rachael Wilkinson and Toby Banfield of PwC were subsequently appointed as joint administrators.
The joint administrators will now engage with NCP’s landlords and other stakeholders as they look to assess the company’s options and, where appropriate, make changes in an effort to improve the viability of as many of its sites as possible.
The joint administrators will explore a sale of all or part of the business as one of the options to secure the best returns for creditors. The viability of each site will be continually reviewed, with the possibility of site closures where necessary.
Joint administrator and PWC partner Zelf Hussain commented: "NCP has faced a challenging trading environment over several years, with changing consumer behaviours impacting volumes, and a high fixed cost-base leading to trading losses.”
"Our priority on appointment is to ensure continuity of service while we undertake a detailed review of the business. All sites are open, staff remain in post, and trading continues as normal. We will be engaging with landlords, employees and other stakeholders as we explore all options, including the potential sale of all or part of the business, to secure the best possible outcome for creditors."
In its most recent accounts, the company’s fixed assets were valued at £11.9 million and current assets at close to £66.2 million. However, its net liabilities at the time stood at nearly £290 million.
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