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EU Businesses Plan to Pull Back on U.K. Suppliers

Survey also shows some U.K. companies look to replace EU suppliers amid Brexit uncertainty.

By Phil Serafino, Bloomberg | Updated on November 06, 2017

Almost two-thirds of European Union businesses that work with U.K. suppliers plan to move some of their supply chain out of Britain because of its withdrawal from the bloc, according to an industry group.

That’s an increase from May, when 44% of EU businesses expected to pull back from the U.K., according to a survey the Chartered Institute of Procurement & Supply released Monday. The group also found that 40% of U.K. businesses with EU suppliers have begun looking for domestic companies to replace them, up from 31% in May.

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