Car park operator NCP will permanently close around 20 of its sites after filing for administration earlier this month.
Britain's biggest car park firm told landlords and employees that administrators had found that the sites were "no longer commercially viable to operate," according to Sky News.
The company employs 682 people and manages approximately 340 car parks nationwide, including in major towns and city centres, airports, hospitals and transport hubs. A source told Sky that the closure of 20 sites is expected to result in a "small" number of job losses.
After filing for administration, the firm said it had not recovered from business lost in the Covid pandemic amid the rise in flexible working.
A statement issued on behalf of NCP said it had "insufficient cash available to meet its financial obligations and the directors have therefore taken the decision to appoint administrators."
Joint administrators PwC said it would "engage with landlords" and a sale of "all or part of the business" is being considered, along with site closures.
NCP, which charges up to £33 for 24 hours parking in Manchester and £60 at sites in central London, has been frequently criticised for levying extortionate fines.
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NCP will permanently close 20 sites after entering administration due to pandemic losses and flexible working trends.
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This highlights how remote work continues reshaping urban infrastructure and commercial real estate demand.
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NCP manages 340 car parks nationwide and charges up to £60 daily at central London locations.
