Fears have been raised about the future of tile supply stores in Dundee and Perth.
Ceramic Tile Distributers (CTD) Tiles, one of Britain’s biggest tile suppliers, is “on the brink of collapse”, according to Sky News.
The news organisation learnt CTD Tiles filed a notice of intention to appoint administrators on Monday.
They have reported advisers are “scrambling” to find a buyer for the business.
It is understood Interpath Advisory will be overseeing a sale process which could lead to a “pre-pack administration” later this month.
The impact on CTD Tiles stores and staff, including those in Dundee and Perth, is not yet known.
Fear for future of CTD Tiles in Dundee and Perth
CTD Tiles was bought by the Aurelius Group, which previously acquired The Body Shop and Lloyds Pharmacy, in 2022.
It employs around 400 people and has 87 stores across the UK, including 13 acquired from Tile Giant just last year.
The business has traded from Clepington Road, Dundee, for around 10 years.
CTD Tiles in Perth is located within Jewson on Arran Road. The company also has an outlet in Springkerse Industrial Estate in Stirling.
CTD’s history goes back more than 50 years with the group becoming one of the leading names in the industry.
According to Sky News, it has managed to “withstand pressures” due to additional financial support from its owner.
CTD’s client base is principally made up of large housebuilders and it had revenues of £113 million last year.
A spokesperson from Aurelius said they were unable to comment.
The Body Shop, owned by the same parent company, entered administration in February this year.
Administrators are still seeking to conclude a deal to sell the brand, which operated in Dundee, Perth and Dunfermline.
Conversation