Flooring specialist Topps Tiles has announced that it is withdrawing support and funding from its loss-making Dutch subsidiary.
The Dutch subsidiary, which has been facing cut-throat competition from the domestic companies since it started in 2001, reported a loss of 4.9 million pounds this year to September.
Topps Tiles said any further investment in the Dutch subsidiary would not be economically viable.
Speaking on the issue, the British company said it was not an easy decision for the board to take, but the board found it was the right course of action.
Topps Tiles further added that its 308 British stores would not be affected by the concerned decision.
The company is encouraged after seeing 2.2 per cent rise in sales during the first seven weeks of the running financial year.
Shares in Topps Tiles gained 3¼ pence to 84 pence.
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