00:00Hello, my name's Greg Wright, I'm the Deputy Business Editor of the Yorkshire Post and here are your headlines for this morning.
00:08The tile supplier CTD Tiles has struck a rescue deal with Topps Tiles after falling into administration, but it has shut 56 stores and cut 268 jobs.
00:22The company, which ran 86 stores across the UK and employed 425 staff, fell into insolvency after coming under pressure from a downturn in the home improvement sector.
00:34Administrators from Interpath Advisors said Topps had struck a deal to buy CTD's brands, intellectual property stock, 30 stores and an operation of distribution sites in Leeds and Kings Norton in Birmingham for around £9 million.
00:50My name's Greg Wright, I'm the Deputy Business Editor of the Yorkshire Post.
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