Irish tile giant comes to the rescue
Ireland's largest tile retailer has come to the rescue of Tiles R Us, which collapsed into administration last month.
Administrator PricewaterhouseCoopers has sold Tiles R Us parent F&R Dunlop Services to Railway Tile Store, which trades as Right Price Tiles.
The purchase is understood to have secured 319 jobs. PricewaterhouseCoopers joint administrator Rob Lewis said the sale was 'a great example of how the restructuring of a business through insolvency can deliver value for creditors substantially in excess of what would be available in a break-up situation'.
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