As if it wasn’t already feeling the heat, the Government is now under even more pressure to quickly secure a Brexit deal.
The UK’s five biggest business lobby groups – the CBI, the Institute of Directors, the Federation of Small Businesses, British Chambers of Commerce and the EEF – have joined forces in calling on Brexit secretary David Davis to strike an “urgent agreement on transition arrangements”.
They claim it will “give businesses the certainty and time they need to prepare for a new UK-EU economic partnership”. There is no doubt retailers would welcome such a swift move.
According to figures from the British Retail Consortium, 22% of retailers admitted that some of their EU colleagues had already left their businesses due to looming uncertainty.
More than half of retailers said EU nationals within their businesses were contemplating leaving for the same reason.
Retailers – and business in general – need certainty in order to properly plan for a future outside of the EU.
It would be the perfect Christmas present for retailers if the Government can deliver some clarity.
Quote of the day
“It would be very misleading to make general inferences from any one agreement with a single supplier but it is categorically not Debenhams’ policy to ask for discounts in exchange for payment terms of 90 days.”
Debenhams hits back at claims that it demanded “immoral” discounts from its suppliers.
Today in numbers
The value of the new revolving credit facility secured by The Hut Group.
Hobbs’ gross profit in the year to January 28 – up 8.7% year-on-year.
Carpetright provides a pre-close trading update ahead of its half-year end and Shoe Zone files its year-end pre-close statement.
Luke Tugby, head of content