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…
