The company is on the verge of collapse, with a creditors' meeting set for Wednesday, May 20.

NCP operates over 300 car parks across the UK, some leased and some managed directly.

The company employs around 700 people. PricewaterhouseCoopers are handling the administration process, according to the Gazette.

NCP was taken over by a Japanese company Park24 in 2017, after being sold by Macquarie European Infrastructure Fund.

Park24 runs more than 19,000 sites in eight countries.

NCP is the UK's oldest and largest private car park operator, with a history rooted in the transformation of post-war urban landscapes.

The foundation of the modern enterprise began in 1948, after being originally incorporated in 1931 by Colonel Frederick Lucas.

It started with the conversion of a single bombsite in Holborn, London for £200 before Sir Ronald Hobson and Sir Donald Gosling acquired NCP from Lucas's widow and adopted the "National" branding to reflect their ambition for country-wide expansion in 1959.

The company quickly grew throughout the 60s and 70s, becoming a major player in the development of the concrete multi-storey car parks that came to define British city centres.

The latest update states that the unpaid pre-administration costs detailed at Appendix C of the Administrators' proposals dated 1 May 2026 are approved for payment as expenses of the administration.

It outlines that Zelf Hussain, Rachael Maria Wilkinson and Mark James Tobias Banfield have been identified as administrators.