Topps Tiles to close major London branch as chain pushes ahead with 23 store closures
The Cheam branch will shut on August 7 as the retailer continues a cost-cutting programme across its UK store network
The Cheam branch will shut on August 7 as the retailer continues a cost-cutting programme across its UK store network
Topps Tiles is set to close its Cheam store in south London next week as the retailer continues a programme of branch closures across the UK.
The branch is due to shut on August 7, with "everything must go" signs displayed in the windows as the retailer clears remaining stock through heavily discounted sales.
Local residents have praised the store ahead of its closure, describing it as a "great" branch with "helpful" staff.
The closure forms part of a wider cost-cutting programme that will see 23 Topps Tiles stores close this year.
The Enderby-based retailer has been reducing costs across its estate, with eight underperforming stores already closed by April.
The company confirmed in April that a further 15 branches, including the Cheam store, would shut over the following months.
Chief executive Alex Jensen said the programme was intended to strengthen the retailer's financial performance.
Mr Jensen said: "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."
He added that the restructuring was "designed to support year-on-year profit growth and provide a stronger financial platform for 2027 and beyond".
Topps Tiles said the closures form part of a package of "significant self-help measures" as it seeks to position the business for future growth.
The retailer reported revenue of £142.7million for the six months to March 28, down 0.1 per cent compared with the same period a year earlier.
The company said the slight decline was partly linked to a lengthy regulatory process following its acquisition of rival CTD Tiles in 2024.
Topps Tiles bought CTD Tiles out of administration, but the Competition and Markets Authority required the retailer to sell several branches following its review of the deal.
As a result, Topps Tiles retained 22 of CTD's original 31 stores.
The retailer also acquired the Fired Earth brand for £3million in December after the Oxfordshire-based business entered administration two months earlier.
Topps Tiles, which employs around 1,850 people, reported a statutory pre-tax profit of £8.3million for the year to September, compared with a loss of £16.2million the previous year.
The planned closures represent around seven per cent of the retailer's network of 319 stores.
Topps Tiles has not published a full list of the branches affected by the restructuring programme.
The company has also not confirmed how many jobs will be affected by the closures.
However, it has said it will seek to redeploy affected employees to other parts of the business where possible.
The retailer said the restructuring is intended to reduce costs while strengthening the business for future growth amid challenging conditions in the home improvement market.