Topps Tiles Won't Support Dutch Subsidiary

London, England, Dec. 18, 2009--Flooring retailer Topps Tiles has decided to withdraw support and funding for its unprofitable Dutch subsidiary.

Restructuring of the business has not been successful and it has faced increasing challenges as financial performance has declined.

"The business has been loss-making since 2008 and current trading is significantly behind revised financial targets set by the local management team," the company said.

The subsidiary has 12 stores and accounted for 4% of group revenue in 2009.


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