Fears UK could run out of wine after Brexit as Majestic start stockpiling 1m bottles of booze
The UK's largest wine specialist retailer said that it would bring in £8million of additional bottles from now up until the end of March, when we quit the bloc
MAJESTIC Wines has sparked fears of a wine shortage after Brexit, as it revealed it was stockpiling booze ahead of our exit.
The UK's largest wine specialist retailer said that it would bring in up to £8million worth of additional bottles from now up until the end of March, when we quit the bloc.
The wine, champagne and spirits seller said trading was "sluggish" in the first half of its financial year, but that it would bring in thousands of extra bottles “in order to mitigate any potential supply chain Brexit disruption in March 2019”.
The company normally holds £100m of wine - the extra £8million will make sure it has enough stock in its warehouses in case we leave the bloc without a withdrawal agreement in place.
Businesses think that trade would slow and get stuck at border if extra checks were needed in the event of a No Deal Brexit.
Other businesses including Cadbury and Mr Kipling owner Premier Foods have already said they will be stockpiling goods, and medicines and other supplies are also being built up in the UK.
Chief executive Rowan Gormley's statement said: "The UK retail market is tough and will continue to be a drag on performance in Retail and Majestic Commercial".
Shares in the company tanked by almost 17 per cent today as their reported half year losses of £200,000, but previously the company has expected growth.
Last week it was revealed the UK was running out of stage space and demand for extra space has reached "fiver pitch" as Mrs May bring back her deal from Brussels.
Today the PM signed off a deal on our withdrawal agreement after all-night talks between officials in Brussels.
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Bust it was immediately slammed by Brexiteers who said we would be tied to the EU for years to come, and could have to give in to them on fishing rules and access to our waters too.
However, the PM did win back vital concessions over the Northern Irish border which has boosted her chances of getting it through the Commons in a crunch vote next month.
MPs will have to sign off her deal within the coming weeks - presuming the EU leader agree it all at a special summit over the weekend.
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