Topps Tiles has completed acquisition of CTD Tiles out of administration

The specialist retailer announced on Monday that it had acquired CTD Tiles brands, 30 stores, selected stock and all intellectual property from administrators James Lumb and Will Wright of Interpath for £9m.

The sale will save 92 jobs, with those working at the 30 acquired stores transferring to Topps Tiles. Another 65 staff will be staying on with the joint administrators as part of the transitional services agreement to assist with the delivery of the administration. 

The remaining 268 staff across the CTD business have been made redundant, and the remaining 56 stores closed. 

CTD collapsed into administration on August 19, 2024, and previously supplied tiles to the retail, trade and commercial markets with total annual revenues of circa £75m.

It operated 86 stores across the UK, with separate trade and retail showrooms, and had total store revenues of circa £50m in the year to June 2024.

The 30 stores being acquired by Topps Tiles had total sales of circa £20m in the year to June 2024. Topps has also acquired all of CTD’s brands, selected stock and customer data.

Topps said the acquisition will provide it with the “opportunity to make a meaningful entry into the housebuilder segment”.

Topps Group chief executive Rob Parker said of the acquisition: “The CTD brand and assets are an excellent fit with our existing business and the acquisition creates a new and complementary specialist tile business within the Topps Group.

“CTD operates a different model to our existing Topps Tiles retail stores, with separate trade and retail offers within each unit and a number of market-specific sub-brands, which are differentiated from our existing offer.

“The acquisition of 30 high-quality stores and selected supporting infrastructure, together with the intellectual property and customer data required to service CTD’s existing commercial customers in the housebuilding markets, provides us with an opportunity to make material progress towards our Mission 365 sales goal.

“We are excited about the future of CTD within the Topps Group and look forward to welcoming our new colleagues to the business.”