Topps defends strategy after being slammed by biggest shareholder

Topps Tiles has hit back at criticism from its largest shareholder over the retailer’s strategy and accusations of a series of blunders by management. (Topps/PA) - (PA Media)

Topps Tiles has hit back at criticism from its largest shareholder over the retailer’s strategy and accusations of a series of blunders by management.

Piotr Lipko – managing director of Austrian investor MS Galleon, which owns a 30% stake in Topps Tiles – wrote to Topps Tiles bosses last week calling for a leadership review, claiming management have made a raft of recent “strategic missteps”.