National Car Parks (NCP) has announced that 22 of its parking facilities will cease operations permanently across England and Wales at the end of this week.
The company, established in 1931, ranks among the United Kingdom’s largest parking operators. In recent years, however, its financial performance has declined considerably, a development attributed to the growth of remote work arrangements and the expansion of e-commerce.
The organisation, which currently employs 682 staff members and oversees 340 parking locations throughout the country, entered administration earlier this month.
Following an assessment, administrators have determined that 22 sites can no longer generate sufficient commercial returns and will shut their doors on Friday, March 27.
An informed source told Sky News that the closures would lead to a modest reduction in headcount. The remaining 318 parking facilities will continue trading, with no additional locations currently flagged for shutdown.
On Monday morning, March 23, the administrators confirmed that 22 of NCP’s properties would close permanently.
Company leadership stated that the enterprise possessed inadequate cash reserves to service its financial commitments, prompting directors to place the business into administration.
The organisation’s pricing structure varies according to location, with certain central London facilities charging as much as £65 per 24-hour period. In Manchester, some sites command fees reaching £333 for a full day.
On Monday, March 16, Zelf Hussain, Rachael Wilkinson and Toby Banfield from PwC were named as Joint Administrators of National Car Parks Limited.
Following an initial review of operations, the administrators identified 22 locations as commercially unsustainable. These will cease trading at 11:59pm on March 27.
Unfortunately, 33 members of staff will lose their positions on March 31 and will receive assistance through the statutory redundancy process.
The other 318 parking sites remain operational, and no further closures have been planned at this stage.