More than 100 jobs at risk as tile specialist goes under
A wholesaler and retailer of tiles operating across the Midlands has ceased trading shortly after posting a notice of intention (NOI) to appoint administrators.
TheBusinessDesk.com revealed that Wolverhampton-headquartered Tile Choice had submitted an NOI by representatives from The Wilkes Partnership on January 11. It would protect the firm from any creditor action for a period of around ten days whilst it attempted to find a way forward.
Tile Choice has 18 stores across the East and West Midlands alongside a 30,000 sq ft warehouse and distribution centre stocked with more than £5m of tiles.
Store locations include Walsall, West Bromwich, Derby, Kettering, Carvers Wolverhampton and Coventry and range in size from 3,000 sq ft to 19,000 sq ft.
Its website now says it has ceased trading operations.
The business employed 116 staff in its latest accounts ending June 2022 and reported revenues of £15.9m.
Accounts also revealed a dip in profits from £910k to £546k, due to the closure of an underperforming store and a fall from the highs of the previous year under lockdown. Online business had also reduced as stores were open for a full year.
Profit before tax had decreased by £364k thanks to improved salaries and commissions being paid and also because of a reduction in grants available for business rates.
