Factory MD: 'No Deal' will cause shockwaves

(12 Sep 2019) British businesses are having to invest significantly to prepare for the possibility of a no-deal Brexit. UK sauce and condiment maker BI Europe is based in the north of England, and it's managing director says the company has suffered financially as a result. Kamal Dhutia says the stockpiling of raw materials like eggs and tomatoes to keep things running smoothly have cost the Leicestershire-based manufacturer as much as 300 thousand pounds in recent months. His profits are taking a hit – down as much as five percent because of this preparation. "What we've had to do is that we've had to plan about eight weeks of extra stock holdings, because we just don't know," says Dhutia. He fears a massive disruption of unknown proportions should Britain leave without a deal. He voted to remain in the EU but now says if the UK has to leave, businesses at least need a coherent deal to keep trade flowing. "I don't think they're in the real world, they don't know how industry works," says Dhutia. With Brexit due in 50 days, the UK Prime Minister Boris Johnson insists the country must leave on time on Oct. 31, with or without a divorce deal to smooth the way. But many lawmakers fear a no-deal Brexit would be economically devastating, and are determined to stop him. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter:   / ap_archive   Facebook:   / aparchives   ​​ Instagram:   / apnews   You can license this story through AP Archive: http://www.aparchive.com/metadata/you...