Colchester CTD Tiles to reopen thanks to new rescue deal

CTD Tiles, one of the country’s biggest suppliers of tiles, closed 56 stores after going into administration last month.

It ran 86 stores across the UK and employed 425 staff before its collapse.

Administrators swiftly struck a deal for rival Topps Tiles to buy 30 stores, CTD’s brands, intellectual property, stock and two distribution sites for £9 million.

Business - CTD Tiles Colchester after it shut (Image: Newsquest)

The Colchester branch in the Cowdray Centre, in Mason Road, was one of the affected sites which ceased trading.

It led to some customers failing to receive products they had paid for.

However, new deals have now been made.

The administrators at Interpath Advisory have confirmed they have secured two further agreements which will mean 23 former CTD stores will reopen.

Stiled Limited, which owns the Tile Giant and Tile Choice brands and operates 49 stores across the UK, is to take on 16 former CTD Tiles stores and associated stock.

Kajaria-UKP Limited, a UK joint venture with New Delhi-based tile manufacturer Kajaria Ceramics, agreed to save seven stores and take on associated stock.

Now, CTD Tiles Colchester will reopen to customers under the Kajaria-UKP Limited deal.

James Lumb, managing director at Interpath and joint administrator, said: “We are pleased to have reached these agreements which pave the way for a further 23 stores to reopen under new ownership.

“We hope they 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.”

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

Derby, Derbyshire

Northampton, Northamptonshire