NCP appoints administrators

ChirpyChicken

https://www.transportxtra.com/publications/parking-review/news/80459/ncp-set-to-appoint-administrators/

ChirpyChicken

www.transportxtra.com/publications/parking-review/news/80459/ncp-set-to-appoint-administrators/

patient_dream

Very interesting. If NCP are in trouble, how many others ?

Grey_Critic

Documents lodged today with London's High Court say the company, which charges up to £33 for 24 hours parking in Manchester and £60 at sites in central London, has filed an intention to appoint an administrator.

fb1969

"demand for parking had not recovered to pre-Covid levels, pointing to "shifts in commuting and customer driving patterns" apparently! Not pesky internet forums helping people then. Not sure why it isn't clickable.

https://www.bbc.co.uk/news/articles/c2e48zl4j7ko

Nellymoser

Well it's no surprise they didn't attract customers at those prices!

James_Poisson

NCP have been ripping people off for years I used to work around London and avoided their car parks where I could as their prices have always been as high as they could make them.

Car1980

Moorside won't be happy!

Never pay an invoice from a company in administration.

I wonder what Popla will do because they won't be getting their payments either.

I would be reluctant to even be working there now anyway. What are the chances of you getting paid in 4 weeks' time?

Grey_Critic

There will be plenty looking to take it on. There will be a good reason for the loss and it will not be because people have not used their sites, in many cases you have no choice and if these include such as hospital sites managed by them they cannot lose.

On another note I see that someone want to take over Thames Water with £17 billion of debt. There is money to be made

daveyjp

They have been around a long time and some of their car parks are now just diabolical. They have layouts which don't work for modern huge vehicles and being 50+ years old, they are unpleasant, unwelcoming and some are also suffering structural issues meaning floors can't be used.

Car1980

https://forums.moneysavingexpert.com/discussion/comment/81925502#Comment_81925502

A lot of money has gone into physical building with their business model. Presumably the financing for this turned out to be more than is being recouped.