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CTD Tiles, a major supplier in the tile industry, has entered administration, leading to the closure of several stores, including the Brierley Hill location at Enterprise Trading Estate. The company, which had its head office in Birmingham, was acquired by TOPPS GROUP for £9 million, but the deal excluded the Brierley Hill and Sutton Coldfield stores, both of which have now shut down.
The acquisition by TOPPS GROUP includes 30 stores, selected stock, and all related intellectual property, which will now be integrated into their existing operations. Despite the closures, TOPPS GROUP is set to expand its reach with the acquired assets, continuing to operate under the CTD brand name.
Rob Parker, CEO of TOPPS GROUP, expressed excitement about the acquisition, noting that CTD’s separate trade and retail offerings, along with its market-specific sub-brands, align well with their existing business model. The acquisition also allows TOPPS GROUP to enter the housebuilder segment and expand its share in the Architect and Designer market.
The transaction ensures continuity for many CTD employees, with 92 staff members transferring to TOPPS GROUP. However, the remaining 56 CTD stores will be disposed of, and additional redundancies have occurred as part of the administration process.
