UK home improvement retailer to close 15 stores in 6 months

Topps Tiles has said the closures, which results in 7% of its 319-strong estate, will help slash costs as part of “significant self-help measures” in the face of a tougher home improvement market.

The Leicestershire-based tile chain added that this also includes savings being made at its head office.

It’s thought the move will “provide a stronger financial platform for 2027 and beyond”.

Topps said the stores are under-performing, with eight already closed since last September and the remainder being shut over the next six months.

However, it did not disclose what impact the moves would have on its workforce.

Topps Tiles chief executive Alex Jensen, who took over as chief executive on December 8 after former longstanding boss Rob Parker retired, commented: “In light of subdued consumer sentiment and geopolitical uncertainty as well as the cumulative impact of cost inflation, the management team is implementing a targeted programme of self-help measures weighted towards the second half.

“These actions are designed to support year on year profit growth and provide a stronger financial platform for 2027 and beyond.”

The tile company said sales fell 0.1% to £142.7 million in the six months to March 28, though it said revenues were impacted by a “lengthy” competition process and disposal programme required to appease competition concerns after it bought CTD out of administration in 2024.

With the CTD business stripped out, sales rose 2.1%, though it said growth slowed sharply to 0.6% in the second quarter.

It said it performed better than the wider DIY and home improvement market.

The cost savings efforts are set to impact sales, but boost profitability, Topps Tiles said.

Topps saw its deal to buy CTD out of administration probed by the Competition and Markets Authority (CMA), which required it to sell off a number of CTD stores to appease concerns.

The firm was left with 22 CTD stores, down from an initial 31.

In December, it also bought the brand of collapsed rival Fired Earth in a £3 million rescue deal after the Oxfordshire-based competitor tumbled into administration in October, resulting in the closure of its 20 UK showrooms and 133 job cuts.

Topps said the group is on track to return the CTD arm to profit in 2025-26, having notched up like-for-like sales growth of 1% across the division in the first half to March 28.

The firm reported a statutory pre-tax profit of £8.3 million in the year to September, swinging from a £16.2 million pre-tax loss a year earlier.

It will report half-year figures on May 19.

UK businesses that have entered administration in 2026

Topps Tiles isn’t the only major UK business affected by rising costs in 2026, which has already seen several retailers entering administration and others announcing widespread store closures.

Fashion brand LK Bennett collapsed into administration in January and launched a closing-down sale at its stores.

John Noon and Mark Firmin of Alvarez & Marsal Europe LLP were appointed joint administrators.

Following this, the LK Bennett brand and related intellectual property were sold to US firm Gordon Brothers, which also owns Laura Ashley and Poundland.

Alongside this, major high street retailers, including River Island, Primark, and Poundland, have been forced to close stores, while Revolution and BrewDog have shut the doors to 21 and 38 pubs, respectively.

UK construction company Onespace Group, which is based in Knutsford near Manchester and specialises in the creation of commercial office spaces, entered administration recently too.

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UK beauty firm Beauty Bay filed for administration this month but was saved.

A French-owned company called AA Investments Group bought it for an undisclosed amount, saving stores and people’s jobs.

Russell & Bromley, Moores, Claire’s and The Original Factory Shop, Quiz, Denby, and National Car Parks (NCP) have also fallen into administration recently.

Which shops have recently closed near you that you miss? Let us know in the comments below.