"The firm's collapse shows the combined impact of flexible working, cost-of-living challenges and fuel prices, as well as the general fall in high street shopping and increase in delivery services."
"There has undoubtedly been a big shift away from commuters needing parking space five days a week. Habits are now far more sporadic and more people are trying to avoid paying for tickets."
"Higher energy prices as a result of the outbreak of war in Ukraine in 2022 increased its operating costs, compounded by persistently high UK inflation, with NCP experiencing inflation-linked rent rises."
"The costs of maintaining car park infrastructure are huge, including equipment, lighting and staffing. They're often in prime locations so face high business rates."
National Car Parks, one of the UK's largest car park companies, has entered administration, risking nearly 700 jobs. The company struggled with reduced occupancy in city-centre and commuter car parks due to increased remote working and online shopping. Factors contributing to its downfall include high operating costs from inflation and energy prices, as well as changing consumer habits that have led to less frequent parking needs. The uncertainty of post-pandemic travel patterns has further complicated the situation for the company.
Read at www.bbc.com
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