Park First goes into administration

Bus entering Stansted Airport

The Park First Group confirmed on 4th July 2019 that Park First Freeholds Limited, Help Me Park Gatwick Limited, Park First Glasgow Rentals Limited and Park First Gatwick Rentals Limited went into administration. Yesterday, 15th November they announced a restructuring plan. More details available here https://www.parkfirst.com/news/important-notice-for-investors-1-2-1.

Park First Group operate car parks at Glasgow and Gatwick. During their administration they have continued to operate as normal. They also offered investors returns of 12% on investments of £20,000 in car parking spaces at both airports.

However, investors should take note as the FCA (Financial Conduct Authority) have got involved and claims it was an “illegal collective investment scheme” that was “promoted to the public using false or misleading statements”. The FCA have provided information for investors here https://www.fca.org.uk/news/news-stories/park-first-limited-information-investor.