Credit insurance withdrawn for ailing Topps Tiles’ suppliers

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The Independent Online

Topps Tiles, the struggling tile and wood flooring specialist, said an unnamed credit insurer is to withdraw cover to the retailer’s suppliers. But it said that key suppliers remain supportive of the business and the retailer does not expect the withdrawal of credit insurance to have a “material impact on the business”. On 13 January, Topps Tiles said for the first 13 weeks of the financial year its like-for-like sales had tumbled by 18 per cent.

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