The UK’s biggest private car park operator is on the brink of collapse – putting 10 Glasgow city car parks and airport parking sites in doubt.
National Car Parks (NCP) filed a Notice of Intention to Appoint Administrators on Monday.
The company, which runs around 300 car parks across the UK and employs about 700 people, operates 10 sites in Glasgow as well as several at Glasgow Airport.
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The company also runs a medium to long stay car park at Prestwick Airport in Ayrshire.
Price Waterhouse Coopers is lined up to handle the potential insolvency process, according to the Scottish Sun.
NCP has been owned since 2017 by Japan’s Park24 and the Development Bank of Japan.
The company has been sold multiple times over the years, with each owner steering changes to its business model.
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Under Park24’s ownership, the operator introduced digital upgrades such as the NCP app and automatic number plate recognition (ANPR) systems.
These changes were designed to make parking and payments faster and more convenient for customers.
In the financial year ending 2023, NCP reported turnover of £187 million, a 7.15% decrease on the previous year.
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