Tile supplier CTD Tiles has struck a rescue deal with Topps Tiles after falling into administration but has shut 56 stores – including four in Kent. The company, which ran 86 stores across the UK and employed 425 staff, fell into insolvency yesterday (Monday) after coming under pressure from a downturn in the home improvement sector. Administrators from Interpath Advisory said competitor Topps had struck a deal to buy CTD’s brands, intellectual property, stock, 30 stores and operation of distribution sites in Leeds and Kings Norton, Birmingham, for around £9 million. It is understood that 92 w…
