Duff & Phelps successfully transitions Purple Parking in pre-pack deal with Holiday Extras

Benjamin Wiles and Paul Williams of Duff & Phelps Ltd., appointed joint administrators of Purple Parking on 2 November 2017, successfully sold the company’s website, intellectual property and parking booking platform to Holiday Extras. The transaction involved the transition of Purple Parking’s parking operations to alternative providers to ensure minimal disruption to customers.

Purple Parking was established more than a quarter of a century ago offering car parking at 25 airports including Heathrow, Gatwick, Stansted, Manchester and Luton. However, the company went into administration on 2 November 2017 due to cash flow difficulties stemming from the loss of its primary site to development. Duff & Phelps were engaged to find the solution that presented the best outcome for the company’s stakeholders, including its customers.

The 36 staff associated with the company’s booking agency transferred immediately to Holiday Extras.

Benjamin Wiles, joint administrator, Duff & Phelps, said:

“Our objective was to identify a buyer for the agency business which focused on providing continuity of service for Purple Parking’s customers, suppliers and distributors. Naturally we are delighted that we were able to secure a future for the brand and its existing employees through this deal with Holiday Extras.”