Flooring and tiles chain launches massive closing sale – ‘everything must go’ | UK | News
Flooring specialist Topps Tiles will close its Cheam store on August 7, with locals reporting seeing “everything must go” signs in the store’s window.
The Cheam site is one of 23 branches the tile store plans to close.
In April, bosses at Topps Tiles announced they would close stores as part of “significant self-improvement measures”.
Eight stores have already closed, and the remaining 15 are scheduled to close within the next six months.
The administration has cited several reasons for the closures, including geopolitical instability and inflation.
“In light of lower consumer sentiment and geopolitical uncertainty, as well as the cumulative impact of cost inflation, the management team is implementing a program of targeted self-help measures with an emphasis on the second half,” Topps Tiles CEO Alex Jensen said at the time.
Earlier this month, Topps Tiles said extreme heat this summer had added to difficulties following tough trading.
June heatwaves have ravaged the country and millions of Brits have been subject to rare amber and red warnings from the Met Office for extreme heat.
High temperatures have caused sleepless nights, school closures and travel disruptions, affecting trade by forcing tradesmen to stop work, according to Topps Tilesm.
While the company warned of annual profits after worse-than-expected sales, it said weather conditions also had an impact.
The chain said sales fell 1.8% in the three months to June 27, while like-for-like revenues across its main Topps Tiles brand worsened during the quarter.
“Recent extreme heatwave conditions have led to temporary business interruptions among builders and tradesmen, further impacting activity levels,” the firm said.
“While a recovery is likely to occur over a six-month period, it is unlikely to fully return in our financial year ending in September.”
There looks to be little reprieve for Brits this summer as the UK approaches its fourth heatwave.
Temperatures are expected to rise to 35 degrees in southeast England on Wednesday.
