Interpath secures future of 23 former CTD Tiles stores

Interpath Advisory, the joint administrators of Tildist Realisations Limited, formerly CTD Tiles Limited, has announced that it has reached agreements which will see a further 23 stores reopen.

Stiled Limited, which owns the Tile Giant and Tile Choice brands and which currently operates 49 stores across the UK, has reached agreement to take on 16 former CTD Tiles stores, in addition to acquiring the associated stock, fixtures and fittings.

Separately, Kajaria-UKP Ltd, a UK joint venture with New Delhi headquartered tile manufacturer Kajaria Ceramics Limited has reached agreement to take on seven stores, in addition to acquiring the associated stock, fixtures and fittings.

James Lumb and Will Wright from Interpath Advisory were appointed joint administrators to Tildist Realisations Limited (formerly CTD Tiles Limited) on 19 August 2024. Immediately following their appointment, they concluded a transaction which saw the transfer of 30 stores to Tiles4Less Limited, which is owned by Topps Tiles Plc.

Addleshaw Goddard LLP and Eversheds Sutherland (International) acted for the joint administrators. Stiled Limited was advised by Dutton Gregory and  Kajaria-UKP Limited were advised by Hill Dickinson. 

Lumb, managing director at Interpath Advisory 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, and which we hope 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.”

Matt Williams, CEO of Stiled Limited, added: “We are delighted to reopen these stores that had been closed. Our focus will be working to establish these locations as Tile Giant and Tile Choice stores with new colleagues to provide market leading tile ranges.”

Viren Mundra, CEO of Kajaria-UKP Limited, concluded: “Kajaria is the seventh largest tile producer in the world, selling premium tiles in over 35 countries. We opened the UK’s largest tile showroom in London earlier this year. This is the next step in our UK expansion and we look forward to serving customers from these seven new locations.”