A car park operator in Southport says its sites will remain open “for now” despite the firm going into administration today.
NCP, which operates car parks on London Street and the Promenade, has fallen into administration putting almost 700 jobs at risk across the UK.
Zelf Hussain, Rachael Wilkinson and Toby Banfield of PwC have been appointed as joint administrators “and will now take steps to stabilise the business while assessing options for its future.”
The car park sites will continue to stay open “for now,” administrators said.
In a statement PwC said NCP’s “performance has deteriorated over a number of years post-COVID-19 as demand for parking has not recovered to historic levels, particularly across city-centre and commuter locations.
“Continued shifts in commuting and customer driving patterns have impacted site occupancy, while the high concentration of long-term, inflexible leases has meant the Company has been unable to reduce costs in line with revenue or to exit loss-making sites, resulting in ongoing trading losses. ”