Rescue deals are completed to reopen 23 former CTD Tiles stores after collapse

Stiled Limited, owner of the Tile Giant and Tile Choice chains, is set to take on 16 former CTD shops. Kajaria-UKP Limited has agreed to rescue 7 further locations. These are in addition to the 30 shops already saved by Topps Tiles

Rescue deals have been completed to reopen 23 former CTD Tiles outlets after the retailer collapsed last month.

CTD Tiles fell into administration in August, suffering from a downturn in the home improvement market. Before its downfall, the company operated 86 stores across Britain, employing 425 people.

An arrangement was made for Topps Tiles to acquire 30 shops, along with CTD’s branding, intellectual property, inventory, and two distribution centres for £9m, but this resulted in 56 store closures and the loss of 268 jobs.

On Wednesday, Interpath Advisory administrators announced two additional agreements that will see 23 ex-CTD sites reopen. Tile specialist Stiled Limited, owner of the Tile Giant and Tile Choice chains, with 49 UK stores, is set to take on 16 former CTD shops including their stocks.

Simultaneously, a collaboration with New Delhi-based tile producer Kajaria Ceramics, Kajaria-UKP Limited, has agreed to rescue seven locations and procure stock. Interpath managing director and co-administrator James Lumb said: “We are pleased to have reached these agreements which pave the way for a further 23 stores to reopen under new ownership, and which we hope will create a significant number of new employment opportunities for those former workers who were impacted by redundancy, as well as others in the local communities.”

“We’d like to thank all those stakeholders who have helped to get these agreements over the line in such a short timeframe, and wish both Stiled and Kajaria-UKP all the very best of luck for the future.”

Matt Williams, chief executive of Stiled, said: “We are delighted to reopen these stores that had been closed. Our focus will be working to establish these locations as Tile Giant and Tile Choice stores with new colleagues to provide market-leading tile ranges.”

Viren Mundra, chief executive of Kajaria-UKP, said: “Kajaria is the seventh largest tile producer in the world, selling premium tiles in over 35 countries. We opened the UK’s largest tile showroom in London earlier this year. “This is the next step in our UK expansion and we look forward to serving customers from these seven new locations.”

The 16 sites rescued by Stiled are:

Aintree, Merseyside

Basildon, Essex

Blackpool, [Lancashire

Cambridge Central], Cambridgeshire

Chelmsford, Essex

Cricklewood, Greater London

Dundee, [Scotland

Eastbourne], East Sussex

Exeter, [Devon

Ipswich], Suffolk

Plymouth, Devon

Rochdale, Greater Manchester

Slough, Berkshire

Stirling, Scotland

Sutton Coldfield, [Warwickshire

Whetstone, Leicestershire]

– The seven sites rescued by Kajaria are:

Brierley Park, Dudley, West Midlands

Chester, Cheshire

Colchester, Essex

Coventry, Warwickshire

Croydon, Greater London

]Northampton, Northamptonshire