Written ByRobert Moore
Marketing Manager
Rob has over a decade of experience in web and general marketing. He has extensive knowledge of the Insolvency sector and has helped many worried directors with their questions.
Rob is now working with the Board at KSA Group Ltd to develop strategic marketing programmes to support the business plan and drive more company rescues.
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.
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:
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
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
How to terminate leases in a CVA
How to terminate leases in a CVA
What Does Going Into Administration Mean?
What Does Going Into Administration Mean?
Will I get my goods as the company has gone into administration
Will I get my goods as the company has gone into administration
Making Employees Redundant
Making Employees Redundant
Employee Rights in Administration – Guide for worried employees
Employee Rights in Administration – Guide for worried employees