CTD fell into insolvency on Monday after coming under pressure from a downturn in the home improvement sector.
Administrators from Interpath Advisory said competitor Topps has struck a £9million deal to buy CTD’s brands, intellectual property, stock, 30 stores and operation of distribution sites in Leeds and Kings Norton.
It's understood that 92 staff will transfer over to Topps and administrators said they will also keep on a further 65 to deal with the transition of the administration process. James Lumb, managing director at Interpath Advisory and joint administrator of CTD Tiles, said: “CTD Tiles is a major player in the industry, but market conditions proved insurmountable as consumer and trade demand failed to recover in line with expectations.Fury as major high street restaurant chain hikes prices yet SHRINKS portions
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