At Risk of Administration CTD Tiles Now Seeks Buyer - From TTA

At Risk of Administration CTD Tiles Now Seeks Buyer - From TTA

According to Sky News, CTD Tiles is on the brink of administration and reportedly filed a notice of intention to appoint administrators on Monday 5th August. This provides ten days of security to find a buyer before CTD Tiles officially heads into administration.

The company was acquired by former Body Shop owner Aurelius in 2022 and now trades from 87 stores and employs about 400 people, sadly whose jobs are potentially at risk.

CTD Tiles in Adminstration | Stiled, Topps, Buy

Find 53 out of 86 CTD Stores Will Remain Open Advice and Help. How-to 53 out of 86 CTD Stores Will Remain Open in the Tiling News; Tile News advice boards on Tiling Advice | TilersForums.com. 53 out of 86 CTD Stores Will Remain Open on TilersForums.com Tiling Advice Forum.

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Discussions are said to have taken place between Aurelius and key stakeholders in recent months. The identity of prospective buyers is currently unclear.

Edited by Dan to add this link.

Nigel Peacock on LinkedIn: Why Work At Tile Giant?

To the CTD Tiles Team, We know that yesterday brought some difficult news with the closing of 56 stores, and our hearts go out to all of you who have been…

www.linkedin.com

The post At Risk of Administration CTD Tiles Now Seeks Buyer appeared first on The Tile Association.

At Risk of Administration CTD Tiles Now Seeks Buyer - To continue reading...

 

[John Smith]

Liquidators will liquidate though if nothing could be saved.

Saint Gobain saw they didn't have the online market covered at all with it so got rid during covid then?

Then they sorted out staff they wanted to keep and those that are in shops or departments that aren't making money.

Maybe.

Saint Gobain offloaded CTD as it did with Jewson ,Grahams etc as it wanted to focus on distribution and manufacturing only in the UK.

Aurelius owes in excess of £1 million to their biggest suppliers that include Vitra, Rak, Mapei, Weber etc
At this stage it appears more likely they will be liquidated rather than sold. They don't own much in the way of assets and any assets they did own, Aurelius have already sold them.

 

[Dan]

The domain name will be worth a few quid. Although they never used it right IMO.

The store locations would have been there decades those that don't owe their landlords might be worth something to another outlet, maybe?

When they sponsored us years back they had CTD Tiles, TileBase and another fancy London brand but can't remember the name of it.

 

[bsc ceramics]

I heard there 23 million in debt.
Don't know how true that is. Lots of miss information going about. Think some stores have shut already and the rest find out on Wednesday

 

[Dan]

23 million feels more like a debt from a massive company. 1 million I thought they'd be able get covered or a payment plan kinda thing. 🤔

 

[John Smith]

I heard there 23 million in debt.
Don't know how true that is. Lots of miss information going about. Think some stores have shut already and the rest find out on Wednesday

I have heard from multiple trusted sources they owe Mapei in excess of £1 million alone! The numbers quoted to me far exceed £2 million.

The only real contender to buy CTD is Headlam Group as I believe they were interested around the time Aurelius bought CTD. However, Headlam group is reporting a big downturn in 2024 so do they really need the burden of a failing tile brand?
Purchasing the web domain makes sense as it drastically reduced the overheads.

We shall find out within the next few days I guess.

 

[Dan]

Mr Smith should register mate save me keep approving your posts lol we don't mind who you are. Use a Gmail if you're connected and don't want be known, maybe.

Either way thanks for your input.

 

[Dan]

I have heard from multiple trusted sources they owe Mapei in excess of £1 million alone! The numbers quoted to me far exceed £2 million.

The only real contender to buy CTD is Headlam Group as I believe they were interested around the time Aurelius bought CTD. However, Headlam group is reporting a big downturn in 2024 so do they really need the burden of a failing tile brand?
Purchasing the web domain makes sense as it drastically reduced the overheads.

We shall find out within the next few days I guess.

Dude find out if you can get the domain and I'll run a shop on it for you and we can split the profit 😉

 

[bsc ceramics]

Some good news I think.
Topps have brought 30 stores and will keep them as ctd including my branch at Chichester. Don't know which others are shutting.

 

[Dan]

Wicked I'd have put money on them ending up with the domain.

 

[Dave]

Some good news I think.
Topps have brought 30 stores and will keep them as ctd including my branch at Chichester. Don't know which others are shutting.

Ahh wonder if that’s why Topps trade liked my FB page tody. Mmmm 🤔

 

[Dave]

Topps Tiles has completed acquisition of CTD Tiles out of administration

Topps Tiles has today completed the acquisition of the brand and "certain assets" of CTD Tiles out of administration.

www.retail-week.com

 

[bsc ceramics]

Shame about the other 56 stores and the redundancies. Is your branch staying Dave?

 

[Dave]

Shame about the other 56 stores and the redundancies. Is your branch staying Dave?

Yes Darlington and Stockton are staying, the rest of the northeast branches are shut.

 

[honestjas]

All in all a very sad day for me , been using CTD since I finished my time 37 years ago . I feel for the staff especially the ones that I know have been there longer than that ☹️

 

[Dave]

All in all a very sad day for me , been using CTD since I finished my time 37 years ago . I feel for the staff especially the ones that I know have been there longer than that ☹️

You must be northeast based then are you