Britain’s dominant car park operator, National Car Parks (NCP), has gone into administration, putting almost 700 jobs at risk.

As the country’s biggest provider of parking facilities, NCP filed for administration on March 16, leaving hundreds of workers and 340 sites across the United Kingdom facing an uncertain future.

The 95-year-old company, which operates off-street parking in city centres, at airports, healthcare sites and railway stations, appointed restructuring experts PwC as joint administrators after revealing it possessed insufficient cash to meet its financial obligations.

According to its parent company, NCP’s liabilities exceeded its assets by roughly £305 million as of late September the previous year.

Following an initial assessment of the business, 21 NCP car parks classified as commercially unviable stopped serving customers the previous month.

PwC confirmed that the remaining 318 parking sites would continue trading and that no additional sites have been identified for closure at this stage, while options for the rest of the business are explored.

The official closure register showed that one Oxfordshire site, NCP Banbury Marlborough Road, was set to shut at the end of March.

NCP’s own website indicates that beyond the Banbury venue, the company also operates car parks at Oxford Gloucester Green and Oxford Worcester Street.

Neither of these two appears on the published closure list and therefore continues trading under the administrators’ control.