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National World - LocalTV
  • 1 year ago
A tiling store in Leeds has closed after the company fell into administration. CTD Tiles at City Park Industrial Estate on Gelderd Road is one of 56 stores across the UK that has shut its doors after the company fell into insolvency.
Transcript
00:00A tiling store in Leeds has closed after the company fell into administration.
00:05CTD Tiles at City Park Industrial Estate on Gelderd Road is one of 56 stores across the UK
00:12that has shut its doors after the company fell into insolvency.
00:15The company said 268 workers were made redundant after the collapse,
00:20although 30 of its shops and two distribution sites, including one in Leeds,
00:25were bought in a rescue deal by Topps Group.
00:28The company ran 86 stores across the country and employed 425 staff
00:33before falling into insolvency after coming under pressure
00:36from a downturn in the home improvement sector.
00:39Administrators from Interpath Advisory said competitor Topps had struck a deal
00:43to buy CTD's brands, intellectual property, stock, 30 stores and distribution sites
00:49in Leeds and Kings Norton for around £9 million.
00:52James Lum from Interpath Advisory said market conditions proved insurmountable
00:57for the supplier in recent months.

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