Osborne Clarke advises Tiles4Less, a subsidiary of Topps Tiles PLC, on the acquisition of the CTD Tiles brands including 30 stores

Osborne Clarke has advised Tiles4Less Limited, a subsidiary of Topps Tiles PLC ("Topps Group"), on the acquisition of the CTD Tiles brands, 30 stores, selected stock and all related intellectual property from CTD Tiles Limited (in administration) ("CTD"), acting by its joint administrators, James Lumb and Will Wright of Interpath. The transaction completed on 19 August 2024, following a rapid, pragmatic and constructive negotiation period over ten days.

The stores being acquired by Topps Group had total sales of c. £20 million in the year to June 2024, and the acquisition also includes all the CTD brands, selected stock and customer data. As well as adding 30 new, well-established stand-alone stores to the Topps Group estate, the acquisition will provide Topps Group with the opportunity to make a meaningful entry into the housebuilder segment and expand its existing share of the architectural and design segment. The transaction will directly preserve in excess of 100 jobs at stores.
 

"The CTD brand and assets are an excellent fit with our existing business and the acquisition creates a new and complementary specialist tile business within the Topps Group…We are excited about the future of CTD within the Topps Group and look forward to welcoming our new colleagues to the business."

Rob Parker, Topps Group CEO

 
The Osborne Clarke team was led by Restructuring partner Douglas Hawthorn, and included Vaidehi Naik (Restructuring), Lara Fatemi and Siobhan Murphy (Employment), Oliver Woods (Corporate), David North and Joe Blackburn (Real Estate), Richard May and Leanne Gulliver (Intellectual Property), and Jonathan McDonald (Data/Privacy). Scots law advice was provided by Michael Thomson, Riccardo Alonzi, and James Jack of Burness Paull. Osborne Clarke was pleased to work opposite Addleshaw Goddard, which acted for CTD and its administrators.

Osborne Clarke’s restructuring group has also advised on matters relating to, retailers Ted Baker, Wiggle, Planet Organic, The British Corner Shop, In-Time, Peacocks, Bonmarché, Laura Ashley, Oasis/Warehouse, Matches, and The Vampire's Wife. 

Osborne Clarke has a leading Retail and Consumer practice and is ranked Band One in Legal500 for that sector.