For Pooch & Mutt, the U.K.'s hesitation by the Brexit door is more than an annoyance; it's costing real money.
The British maker of superfoods for pets built up about GBP400,000 ($520,000) worth of extra product as it prepared for the potential disruption of a no-deal Brexit on March 29 and then on April 12. Now that the split has been delayed a second time, the supplier to Waitrose supermarkets, grocer J Sainsbury Plc, and Pets at Home Group Plc needs a loan to cover the cost of its stockpile.
“It just screws us,'' said founder Guy Blaskey, saying the storage expense means less money to hire staff. “Until we know what's going on, we need to keep our stock levels high.''
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.