News

NCP (in admin)

Zelf Hussain, Rachael Wilkinson and Mark (Toby) Banfield of PwC have been appointed as Joint Administrators of National Car Parks Limited (”NCP”) and NCP Empire No.2 Limited (“Empire 2”).

Zelf Hussain, Timothy Higgins and Mark (Toby) Banfield, have been appointed as Joint Administrators of MEIF II CP Holdings 3 Limited (“MEIF 3”) - together (“the Companies”).

The appointments were made on 16 March 2026.

NCP is one of the UK’s largest car park operators, employing around 681 people and managing 340 car parks nationwide, including in major towns and city centres, airports, hospitals and transport hubs.

The Joint Administrators continue to trade the NCP business, however, following the closure of a number of commercially unviable sites on 27 March and 16 April, it has not been possible to reach agreements to enable the continued operation of a further five loss-making sites, and as a result these sites will be closed from 23:59 on 30 April. Please refer to the site closure list and site closure FAQs sections for further details.

NCP’s performance has deteriorated over a number of years post COVID-19 as demand for parking has not recovered to historic levels, particularly across city-centre and commuter locations. Continued shifts in commuting and customer driving patterns have impacted site occupancy, while the high concentration of long-term, inflexible leases has meant NCP has been unable to reduce costs in line with revenue or to exit loss-making sites, resulting in ongoing trading losses. NCP now has insufficient cash available to meet its financial obligations and the Directors have therefore taken the decision to appoint administrators.

The Joint Administrators will engage with landlords and other stakeholders to assess and, where necessary, make changes to the business designed to improve the viability of as many of the sites as possible. A sale of all or part of the business will be explored as one of the options to secure the best outcome for creditors. The Administrators will continually review the viability of each location, and depending on the outcome of discussions with stakeholders, there may need to be site closures as part of the process.

CAPA have been appointed by PWC to carry out an rates audit over the complete portfolio.

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Radley (in admin)

Struggling handbag brand Radley has been acquired out of administration by LK Bennett owner Gordon Brothers.

The acquisition includes the Radley brand and related intellectual property. However, the brand’s two shops and 19 concessions will close at the end of the summer after their stock has been sold.

Administrators at FTI Consulting said the administration had followed “a sustained period of challenging economic conditions for the retail environment”.

In a statement, Gordon Brothers said the firm will drive a growth strategy that expands Radley’s global brand and operations through strategic investments in people, products and marketing.

This will include pursuing an asset-light that focuses strengthening relationships with key retailers, expanding the brand’s international presence, and extending Radley’s product categories beyond handbags, watches, jewellery, eyewear and beauty gifting.

FTI have pointed CAPA to carry out a rates audit over the companies portfolio of 23 properties.

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LK Bennett (in admin)

Gordon Brothers has announced that it has acquired the LK Bennett fashion brand out of administration.

Founded in the 1990s by Linda Bennett, the brand started with a single boutique in Wimbledon and became known for its limited edition ready-to-wear, signature shoes, bags and accessories. LK Bennett filed a notice of intention to appoint administrators earlier this month.

Administrators Alvarez and Marsal have appointed CAPA to carry out a property audit over the portfolio.

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Spark Medical Ltd (in admin)

Spark Medical Ltd has been sold in a pre-pack deal that saved around 375 jobs, according to administrators. The company, which is headquartered in Bromborough, the Wirral, provides ambulance services across the North West of England.

Spark employs 97 members of staff and numerous subcontractors, operating as many as 50 medical vehicles daily. it has its own fleet of modern, fully-equipped ambulances and a team of highly-trained and qualified staff, and works in partnership with the NHS and private companies.

In August last year, the company acquired Medi 4 Ambulance Services, which provides a broad range of patient transport and pre-hospital care solutions across the south of England, and also has a substantial ambulance fleet.

But in recent times, the combined business had been hit with increased cost commitments and ongoing capital expenditure alongside a drop in revenue, which created pressures on cash flow, administrators RSM UK Restructuring Advisory said.

This led to a creditors’ Administration application being issued on January 19 this year. Lee Van Lockwood and James Miller, both of RSM UK, were appointed as joint administrators.

RSM have appointed CAPA to carry out an rates audit over the property portfolio.

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Gordon Brothers Inaugural Charity Golf Tournament, which supports the Jon Egging Trust

CAPA were delighted to be the tournament sponsor of the 2nd Gordon Brothers Inaugural Charity Golf Tournament on June 10th, which supports the Jon Egging Trust (JET) which is a UK-based charity focused on supporting young people facing challenges in education and personal development. The funds raised from the golf day directly support JET’s Blue Skies Programme, a three-year intensive intervention for students aged 12 to 15 who are at risk of disengaging from education.

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Lavval Restaurants / Spaghetti House (in admin)

Lavval Restaurants, the group behind Spaghetti House, appointed corporate finance specialist BTG as administrators.

Administrators were hired to help wind down the business and have since shut its remaining five sites, all based in central London.

It is understood the company had already shut three sites in recent months, based in Mayfair, Goodge Street and Fitzrovia.

Spaghetti House was founded by Simone Lavarini in 1955 and remained owned by the family.

The group’s Knightsbridge branch was in the media spotlight in 1975 when three robbers took the restaurant’s staff hostage following a failed robbery.

Luigi Lavarini, executive chairman and chief executive of Lavval Restaurants, said: "After 70 years of serving our loyal customers, it is with a heavy heart that we announce Lavval Restaurants Limited has entered administration and will cease trading".

BTG have appointed CAPA to carry out a full property audit over the 7 properties.

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Keystone Brewing Group Ltd (in admin)

Keystone Brewing Group, formerly known as Breal, which swooped in to acquire Yorkshire’s Black Sheep Brewery, Magic Rock and North as well as Warwickshire-based Purity and London’s Fourpure, Brick, Brew by Numbers and Wolfpack, has appointed FRP as administrators. The group, which also produces non-alcoholic brand Big Drop under licence and distributes Bavarian beer brand Hofmeisterand French cider and calvados brand Sassy in the UK.

CAPA have been appointed by FRP to carry out a rates audit over the companies properties.

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CAPA main sponsors of R3 Conference in Budapest

CAPA were delighted to be the main sponsors of the R3 annual Conference again, which took place in Budapest this week.

The event brought together leading professionals from across the restructuring and insolvency sector, providing a great opportunity to share insights, discuss current challenges and strengthen industry connections.

#R3AC2026

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Promotion for Sophia

It's with great pleasure to announce that Sophia Buchan has been promoted to Associate Director. Sophia has been employed by CAPA for 20 years and heads up the rates, service charge, audit and management functions throughout the UK.

CAPA Director Tony Sweeney comments - "Sophia has been an integral part of the management team for some time and this promotion recognises her being a major part of CAPA's success in recovering over £400m for clients over the past 23 years".

Contact Sophia by email at Sophia@capa.uk.com

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SKS Bailey Group Ltd (in admin)

An accountancy and tax advisory firm with a presence in Teesside & County Durham has formally entered administration.

SKS Bailey Group Limited, which operated from a network of 7 offices spanning the North East and beyond, including sites in Billingham, Consett, Redcar, Gateshead, Ilkley and Scunthorpe.

Administrators Andrew Tate and James Hopkirk of Kreston Reeves LLP have now taken control of the business and appointed CAPA to carry out a rates audit over the company offices.

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