NCP could be set to sell a major chunk of its sites after collapsing into administration.
A property group has emerged as the preferred bidder for around 100 of its car parks.
Martin Property Group is in talks to buy 100 NCP car parks, according to reports by Sky News.
The potential deal comes around six weeks after GreenPoint Partners, which owns roughly 30 NCP car parks, served notice on the administrators.
That move prompted NCP bosses to warn remaining staff that further redundancies could be on the way.
The company has already cut jobs after 20 sites were closed earlier this year.
read more on motors
WAY TO GO
£100m motorway junction to FINALLY open after two years in ‘milestone moment’
TOW THE LINE
Can I get a parent’s car towed if they block my driveway on the school run?
NCP, which was founded in 1931, entered administration after struggling with shifts in travel and commuting habits.
PwC said in a statement at the time: “The high concentration of long-term, inflexible leases has meant the company has been unable to reduce costs in line with revenue or to exit loss-making sites, resulting in ongoing trading losses.”
The company had been owned by Japanese group Park24 since 2017.
It also attempted a financial restructuring during the Covid pandemic in 2021, but the plans faced strong opposition from landlords over proposed rent reductions and write-offs.
Most read in Motors
Leap win
How to win a Leapmotor B05 worth over £30,000
CAR-NAGE
UK Farm said to be centre of car thefts with ‘100s of stolen motors dumped & sold’
CORSA’S A CORKA
Vauxhall Corsa GSE is one of the best cars I’ve tried all year
CONVEYOR BELT
Inside world’s biggest car factory where a motor is made every ten SECONDS
PwC, which was appointed to oversee NCP after its collapse, said it was in the advanced stages of agreeing a sale of the majority of the business.
Despite the latest turmoil, NCP’s administrators have continued to operate parts of the business.
The Sun has contacted PwC for a comment.