Troubled NCP seeks rent cuts

Parking giant takes legal action to reduce rent burden after lockdown revenues drop by 80%

NCP says its launched the Restructuring Plan as a last resort to safeguard the future of its business and more than 1,000 employees

NCP says its launched the Restructuring Plan as a last resort to safeguard the future of its business and more than 1,000 employees

Britain’s most iconic parking operator is turning to the courts in a bid to force landlords to reduce the rents it pays them. NCP says that the pandemic has dramatically reduced its revenue streams, meaning the rents it pays on sites are no longer affordable. NCP has commenced a legal process that it hopes will cut the rents it pays on the almost 600 car parks it operates across the UK. NCP said the court action was a last resort to safeguard the future of its business and its 1,000...

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