Topps Tiles to Close 23 Stores

Topps Tiles will close 23 stores to cut costs.

The company announced this today with its financial results. About 7% of its stores will close.

The stores to close are not doing well. Eight have already closed since September. The rest will close in six months.

The company did not say which stores will close. It said this will help cut costs.

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The CEO said the company is taking steps to help itself due to low consumer spending and high costs.

These steps will help the company make more money in the future.

Sales fell 0.1% to £142.7million in six months. A long competition process affected sales.

The company bought CTD, but had to sell nine stores. It kept 22 stores.

If we don't count CTD, sales rose 2.1%. But growth slowed down.

Topps Tiles said CTD will make a profit in 2025/26. Sales grew 1% in the first half.

The company made a profit of £8.3million. It will report more numbers on May 19.

In December, it bought Fired Earth for £3million. This led to 20 showrooms closing and 133 job cuts.

William Hill is also closing shops. About 200 shops will close from May.

Staff were told about the closures in a meeting. They were asked to go to their shops.

William Hill has 1,300 shops. The closures will affect about 15% of its shops.

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