TOKYO, Mar 17 (Pulse News Wire) – Park24 CO.,LTD. (4666.T) decided to liquidate its two UK subsidiaries, PARK24 International Limited and MEIF II CP Holdings 2 Limited, through Members’ Voluntary Liquidation (MVL).
The move follows a comprehensive review of the group’s UK operations as part of its “Mid-Term Management Plan” for fiscal 2027. The decision was made due to the challenging development status of the UK version of Times Parking (TP) up until February 2026, which led to the conclusion that further investment would be difficult. PARK24 International Limited, established on July 20, 2017, had a capital of £ as of January 2026. It held 100% of the shares in TIMES24 UK Limited and S&K Car Park Management Ltd.
Meanwhile, MEIF II CP Holdings 2 Limited, founded on March 1, 2007, had a capital of £ as of January 2026. Both companies reported significant losses in recent years, with negative net profits recorded in their latest fiscal periods. The restructuring plan also involves reorganizing TIMES24 UK Limited and S&K Car Park Management Ltd under TIMES24 Corporation, aiming to shift focus from large-scale long-term lease contracts to smaller, shorter-term agreements centered around the UK version of TP. The exact timeline for the completion of the liquidation process remains undetermined.
For more detailed information on the impact of these changes on consolidated performance, investors should refer to the company's separate announcement regarding revised forecasts for the fiscal year ending October 2026.
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