Peterborough CTD Tiles centre rescued after deal from Topps - as firm falls into administration

A Peterborough tile store has been rescued from closure – as a national firm has gone into administration.

CTD Tiles has closed 56 stores and made 268 employees redundant across the country this week.

But rival Topps Tiles acquired 30 of CTD's stores and two distribution sites in a rescue deal – with the Peterborough branch in Lincoln Road, Werrington, among those saved.

Topps struck a deal to buy CTD’s brands, intellectual property, stock, 30 stores and operation of distribution sites in Leeds and Kings Norton, Birmingham, for around £9 million.

Rob Parker, Topps Group chief executive, said: “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.”

92 workers will transfer to Topps Tiles, and the administrators will also keep on a further 65 people to deal with the transition of the administration process.

CTD operated trade and retail showrooms throughout the UK and reported approximately £75 million in revenue over the past year.

Established in the 1960s, the company grew to become one of the largest tile retailers in the UK, offering a wide range of tiles and related products for both trade and retail customers.

But James Lumb, managing director at Interpath Advisory and joint administrator of CTD Tiles, said tough market conditions proved “insurmountable” for the supplier in recent months “as consumer and trade demand failed to recover in line with expectations”.

Here is a list of the stores which have been immediately shut and those which have been saved:

56 store closures:

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

And the 30 stores rescued by Topps:

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