We continue to monitor the Brexit situation closely and remain prepared with measures to counteract the impact of these circumstances, ensuring a continued reliable supply of our products after 31st December 2020.
The key actions we have taken and are constantly reviewing are detailed below:
- We have identified our key fast moving product lines across the business and have adjusted supply schedules accordingly to maximise availability.
- We have optimised the movement of already held buffer stocks between our UK facilities.
- Those brands imported from mainland Europe and non-EU countries come via a well-established process with robust supply chains and we are working closely with our key suppliers to safeguard these supply chains to ensure continuous availability.
- We are continuing discussions with our key Freight Forwarders to mitigate the risk of customs delays, including reviewing alternative routes into the UK and preparations for increase in customs administration.
- We are constantly updating our analysis of the financial impact of a no deal Brexit, including increased duty and tariffs, increased cost of freight and customs administration, foreign exchange fluctuations and are looking at ways to mitigate this to ensure minimal impact on our customers.
- We are monitoring on a daily basis fluctuation in exchange rate and forward purchase foreign currency with minimum three month coverage
We recognise that many of our customers may have concerns. We would like to assure you that we are taking all reasonable steps to mitigate risk, where this is within our control. We will continue to review our position as more information is provided by the UK Government.