Topps Tiles has acquired the CTD Tiles brands, IP, 30 stores, and some of the stock from the CTD Tiles administrators, James Lumb and Will Wright of Interpath Advisory. The deal will see 92 of CTD’s staff transfer to Topps Tiles, with the administrators retaining 65 to assist with administration.
56 remaining stores CTD Tiles stores have now closed.
Rob Parker, CEO, Topps Group, commented: “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.”
James Lumb, managing director, Interpath Advisory said: “CTD Tiles is a major player in the industry, but market conditions proved insurmountable as consumer and trade demand failed to recover in line with expectations. The transaction with Topps Group provides continuity for a considerable number of staff and stores as part of a major tiles group.”
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