Topps Tiles PLC on Thursday said it has been slapped an initial enforcement order by the UK competition regulator in connection with the tile seller’s acquisition of CTD Tiles Ltd assets.
The order bars Topps Tiles from integrating ‘the CTD business into the group’, the Leicester-based firm noted.
‘An IEO is routinely applied in cases where the CMA reviews a completed transaction,’ Topps Tiles added.
‘The group is actively working with the CMA to ensure compliance with the IEO.’
Topps Tiles in August said it acquired various assets from CTD, which had entered administration.
It paid £9 million for CTD Tiles brands, 30 stores, selected stock, and all of its related intellectual property.
Topps Tiles shares rose 0.7% to 43.30 pence each in London on Thursday.
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