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flag UK tile retailer CTD Tiles, with 86 stores and 425 workers, enters insolvency; 56 stores to close, 268 redundancies, but Topps Group buys CTD'

flag UK tile retailer CTD Tiles, which had 86 stores and 425 workers, has gone into insolvency due to a drop in the home improvement sector. flag Administrators have announced that 56 stores will close, leading to 268 redundancies. flag However, competitor Topps Group has agreed to buy CTD's brands, intellectual property, stock, and 30 stores for approximately £9 million. flag Topps Tiles will take on 92 former CTD workers, while 65 employees will be retained for the transition.

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