Stocking up in anticipation of a hard Brexit

The British wine seller, Majestic Wine, announced on Thursday that it has decided to build up its stocks so as not to be caught off guard next year in the event of the UK exiting the EU without agreement.

The retailer explained in a press release announcing its half-yearly results that it expects to build additional stocks worth GBP 5ñ8 million (about EUR 6ñ9 million) by 29 March 2019, the effective date of Brexit.

The aim is to “mitigate any potential supply chain disruptions due to Brexit,” said the company.

The Guardian newspaper reported that these stocks would consist of more than one million additional bottles of French, Spanish and Italian wines.

Majestic Wine joins other companies that have already planned increased stocks of raw materials, medicines and other foodstuffs, for fear of the consequences on their business of an uncompromising divorce between London and Brussels that would see a return of customs controls.