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Sat, 21 Mar 2026

Sat, 21 Mar 2026 Home working, long leases and rise of parking apps - what went wrong for NCP

How could a company that charged as much as £65 for a day's parking fail to turn a profit?

* Reduced demand for parking due to flexible working and increased online shopping
* High energy prices and inflation-linked rent rises
* Maintenance costs for car parks are "huge" and include equipment, lighting, staffing, and business rates
* NCP didn't adapt quickly enough to the rise of app-based parking options
* The company had significant debts, with liabilities outweighing assets by £305m as of last September Administrators will now assess the business and explore options such as selling some or all of the company's assets, making staff redundant, or negotiating with landlords. Some profitable locations like airports and stations may remain as car parks, while struggling sites in town centers could be sold to residential property developers.