NCP is seeking to either renegotiate rents or exit contracts on many of the sites it runs. The parking company says the action is needed because it had seen revenues drop by 80% during the pandemic.
The company unveiled a Restructuring Plan in May that could see a major shakeup of the company’s business model. Many landlords are facing large rent cuts and NCP has also started discussions about pulling out of contracts for unprofitable parking facilities.
NCP’s Japanese owner, Park...
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