View the thread, titled "At Risk of Administration CTD Tiles Now Seeks Buyer - From TTA" which is posted in Tiling News; Tile News on Tilers Forums.

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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.


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.


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...
 
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This is not good news! Another 400 people from within our industry are probably going to need a new job somewhere else in the industry or even worse, we lose them to an Amazon Warehouse or something.

Sky News reports that CTD Tiles Limited has today filed a notice of intention (NOI) to appoint administrators.

The act of filing an NOI provides CTD with ten days in which it is protected from creditor action, during which the company can determine a way to proceed to avoid insolvency.

The Birmingham-based company is a key player in the tile sector which, alongside its competitors, has suffered amid challenging trading conditions. A core part of CTD's business is B2B sales to housebuilders, who have been impacted by a subdued housing market.

CTD Tiles trades from a network of 87 stores and several trading distribution hubs, employing around 400 staff. Sources told Sky News that revenues at the company are expected to fall by around 30% in 2024, down from £112.5m for the year ending 31st March 2023.

It is believed that Interpath Advisory is supporting the business as it seeks to find a buyer. A pre-pack administration deal is thought to be a likely outcome but a potential buyer is yet to be named.

The CTD Tiles LinkedIn page said:

"Global yet local, CTD Tiles acknowledges the importance of a truly local service where customers and trade can visit a store and liaise directly with a team of in-house specialists. With Tile Showrooms and Trade Centres across the country, CTD Tiles provides an ever-growing network of local knowledge for both commercial and domestic needs."

Private investment firm Aurelius, which acquired the CTD business in February 2022 from Saint-Gobain, declined to comment when approached by Sky News.
 
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Really sad to see. Let's hope some at least are saved. I use Chichester branch and they always seem busy. Lot of trade guys.
The staff are great. 2 girls and a part time fella.
 
I know @Dave has used them for years and rates his local one highly. Think he's moved since though not sure if he still uses them.

They own TileBase and something else I can't remember the other brand. Anyone know if those too are in the same boat? (I'd assume so as the shop type was the same - think they just bought them out years ago to get more stores quickly)
 
I know @Dave has used them for years and rates his local one highly. Think he's moved since though not sure if he still uses them.

They own TileBase and something else I can't remember the other brand. Anyone know if those too are in the same boat? (I'd assume so as the shop type was the same - think they just bought them out years ago to get more stores quickly)
I do still use them but how long for 🤷‍♂️
 
I think someone will buy it and keep the ones that don't make money and keep the ones that do. They've already closed the one's on jewsons sites cos the rents went through the roof
 
I think someone will buy it and keep the ones that don't make money and keep the ones that do. They've already closed the one's on jewsons sites cos the rents went through the roof
The owners will deffo close the stores not making a profit imho. They will cash in on assets. Fingers crossed a buyer comes in.
 

Reply to the thread, titled "At Risk of Administration CTD Tiles Now Seeks Buyer - From TTA" which is posted in Tiling News; Tile News on Tilers Forums.

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