Irish Tile Firm BTW To Liquidate

Co Kildare, Ireland, March 16, 2009--The company behind BTW, Ireland's leading retailer of bathrooms, tiles and wood floors, previously known as Tilesavers, has collapsed,  with debts of $3.9 million, according to The Post.

A liquidator has been appointed for Ceraware, the holding company behind BTW. The company owns five bathroom and tile shops across the country. Ten other BTW outlets operate under franchise, and these are not affected by the liquidation.

The tile firm was founded in 1993 and originally traded as Tilesavers. It experienced a surge in growth over the past ten years with the boom in the property and constructions sectors, but the collapse of those markets has led to a fall-off in business.

At the time of the rebranding from Tilesavers to BTW in 2006, the firm announced plans to expand to 20 stores and increase staff numbers from 150 to 250.

The firm said it planned to increase annual sales to $41 million by 2008. It invested $1.6 million in the expansion plan.