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UK tile retailer CTD Tiles, with 86 stores and 425 workers, enters insolvency; 56 stores to close, 268 redundancies, but Topps Group buys CTD'
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.
Administrators have announced that 56 stores will close, leading to 268 redundancies.
However, competitor Topps Group has agreed to buy CTD's brands, intellectual property, stock, and 30 stores for approximately £9 million.
Topps Tiles will take on 92 former CTD workers, while 65 employees will be retained for the transition.
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El minorista de azulejos del Reino Unido CTD Tiles, con 86 tiendas y 425 trabajadores, entra en insolvencia; 56 tiendas cerrarán, 268 despidos, pero Topps Group compra CTD"