NCP administration proceedings threaten the UK’s largest car park operator, with potential closures across 340 sites and 700 jobs at risk following the company’s financial collapse.
Car park giant NCP has collapsed into administration, putting 340 car parks at risk of closure.
The firm is teetering on the brink of collapse, with a creditors’ meeting scheduled for Wednesday, 20 May.
NCP operates more than 300 car parks across the UK, some leased and others managed directly.
The company employs approximately 700 people. PricewaterhouseCoopers are overseeing the administration process, according to the Gazette.
NCP was acquired by Japanese firm Park24 in 2017, having previously been sold by Macquarie European Infrastructure Fund.
Park24 manages more than 19,000 sites across eight countries.
NCP is the UK’s oldest and largest private car park operator, with its roots firmly planted in the transformation of post-war urban landscapes.
The foundations of the modern business were laid in 1948, having originally been incorporated in 1931 by Colonel Frederick Lucas.
It began with the conversion of a single bombsite in Holborn, London, for £200, before Sir Ronald Hobson and Sir Donald Gosling purchased NCP from Lucas’s widow and adopted the “National” branding to reflect their ambitions for nationwide expansion in 1959.
The company expanded rapidly throughout the 1960s and 1970s, becoming a dominant force in the development of concrete multi-storey car parks that came to define British city centres.
The latest update confirms that the unpaid pre-administration costs detailed at Appendix C of the Administrators’ proposals dated 1 May 2026 are approved for payment as expenses of the administration. The document names Zelf Hussain, Rachael Maria Wilkinson and Mark James Tobias Banfield as the appointed administrators.
