CTD Tiles Has Gone Into Administration – Some Stores Saved By Topps
CTD Tiles goes into administration and closes 56 of its outlets.The company's administrators stated that 268 employees were laid off as a result of the failure.Despite the huge number of retail closures, rival Topps Group purchased 30 CTD Tiles locations and two distribution sites in a rescue plan.Topps Tiles has purchased CTD Tiles' brand and intellectual property for £9 million from administration.The tile expert has purchased the supplier's brands, which include CTD Tiles, CTD Trade, and CTD Architectural Tiles, as well as 30 retail outlets, chosen inventory, and all related intellectual property.Topps stated that the retailer is "complementary" to its other businesses and that the acquired stores and assets provide it with "the opportunity to make a meaningful entry into the housebuilder segment and expand its existing share of the architect and designer segment".Topps bought 30 branches that generated £20 million in sales for the fiscal year ending June 2024 and will continue to trade under the CTD brand name. Why didn't Topps Tiles buy the company in a Pre Pack Administration? A pre pack administration sale is possible in these circumstances but the downside is that Topps would have had to take on all the employees via a TUPE process. By waiting until the administration was started they were able to pick up the assets they wanted. CTD might have been able to use a CVA to reduce stores but without knowing the make up of the creditors it is difficult to say. If the business was simply not viable or had significant secured lenders then an administration would have been the correct procedure.If you have purchased goods from CTD then see this page on your rights Below is a full list of the stores which have been immediately shut and those which have been saved: 56 store closures: Aintree, Liverpool Ashford, Kent Aylesbury, Buckinghamshire Basildon, Essex Blackpool, Lancashire Bolton, Lancashire Brierley Hill, West Midlands Cambridge Central, Cambridgeshire Canterbury, Kent Carlisle, Cumbria Chelmsford, Essex Chester, Cheshire Colchester, Essex Coventry, Warwickshire Cricklewood, Greater London Croydon, Greater London Denton, Greater Manchester Derby Ascot Drive, Derbyshire Dundee, Scotland Eastbourne, East Sussex Exeter, Devon Falkirk, Scotland Gateshead, Tyne and Wear Glasgow Helen Street, Scotland Hanwell, Greater London Harlow, Essex Huddersfield, West Yorkshire Ipswich, Suffolk Kilmarnock, Scotland King’s Lynn, Norfolk Leeds, West Yorkshire Lincoln, Lincolnshire Livingston, Scotland Maidstone, Kent Newcastle North Shields, Tyne and Wear Newcastle West Kingston Park, Tyne and Wear Northampton, Northamptonshire Peterlee, Scotland Plymouth, Devon Portsmouth, Hampshire Preston, Lancashire Rochdale, Lancashire Rotherham, South Yorkshire Slough, Berkshire Southampton, Hampshire St Albans, Hertfordshire Stirling, Scotland Stratford Upon Avon, Warwickshire Sunderland, Tyne and Wear Sutton Coldfield, West Midlands Swindon, Wiltshire Tonbridge, Kent Uxbridge, Greater London Wembley Stadium, Greater London Weston-Super-Mare, Somerset Whetstone, Leicestershire 30 stores rescued by Topps: Aberdeen, Scotland Basingstoke, Hampshire Birkenhead, Merseyside Cambridge Bar Hill, Cambridgeshire Chichester, West Sussex Coatbridge, Scotland Coulsdon, Greater London Crawley, West Sussex Darlington, County Durham Dorking, Surrey Edinburgh Seafield, Scotland Edinburgh Stenhouse, Scotland Fakenham, Norfolk Farnham, Surrey Glasgow London Road, Scotland Hampton, Greater London Hull, East Yorkshire Inverness, Scotland Newbury, Berkshire Newcastle Under Lyme, Staffordshire Norwich, Norfolk Nottingham, Nottinghamshire Perth, Scotland Peterborough, Cambridgeshire Poole, Dorset Stockton, County Durham Warrington, Cheshire Watford, Hertfordshire Wimbledon, Greater London Woking, Surrey
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