National Car Parks enters administration, nearly 700 jobs at risk
→Site managers must keep car parks open during PwC administration
Change
NCP entered administration with PwC appointed and cannot pay landlords or creditors amid £352.6m debt.
Why it matters
Administrators will review each site's viability and decide on potential closures. Creditors face unpaid rent and outstanding obligations.
Implications
- — Procurement teams must secure alternative parking at airports and hospitals immediately or face disruption.
- — Creditors must engage PwC administrators immediately to lodge claims or risk exclusion.
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Source
View on The Guardian