For more than two years, the clock ran down towards March 29, the day Prime Minister Theresa May pledged Britain would leave the EU. As the drama rolls on, the costs mount from the Brexit day that wasn't. May's deferral of the departure to at least April 12 came too late for companies that spent months assuming the crunch would arrive as scheduled. If London and Brussels delay further to avoid a chaotic no-deal split, some of the preparations could turn out to have been for naught. Big businesses such as HSBC and GlaxoSmithKline are spending tens of millions of pounds on Brexit, but smaller companies are feeling the pinch too. Plastribution, a plastics wholesaler near Leicester, England, stockpiled inventory before March 29 and will now have to spend thousands of additional pounds on warehouse space as uncertainty over the departure date drags on. "It really felt like it was a clear deadline, a line in the sand," said Mike Boswell, the company's managing director, adding that logist...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.