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Hoarding for Brexit sparks race for warehouse space in Britain

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There is a vast warehouse complex about 40 miles north of London. The staff of these warehouses wrestling with ways so as to be able to cram in extra goods beyond the capacity of the warehouses after the surge in the demand by the firms for building the stockpiles because of the Brexit.

At Miniclipper Logistics the efforts are to add new racks. This is being done by narrowing the aisles.

This act of theirs is being copied across the Britain because of the contingency of the Brexit which has sparked a race for increased storage space.

Source: i-invdn

Miniclipper Logistics has already added a mezzanine floor along with a temopary floor which has a capacity of 300000 square feet. Despite these additions which were made recently, the company had to turn down offers from new businesses.

According to Reuters, the sales director of the company, Jayne Masters stated them it’s almost daily that they receive inquiries regarding Brexit and that they have customers who have been queuing up so as to move in the goods.

The fifth largest economy of the world is at the risk of stumbling into an exit that will be very disorderly from the trading partner, European Union, which is the biggest one.

Source: CDN

This is when and if the parliament votes down the withdrawal agreement by the Prime Minister Theresa May on the 11th of December.

There is fear of border checks as well as blocked ports and tailbacks on the road amongst the business leaders. This has also threatened the movement of goods worth $540 billion between the two countries and will lead to damage to major companies like GSK and Unilever.

Because of this fear, the companies like Rolls Royace and Airbus, along with retailers, manufacturers and even food and drink groups have all stated that they are piling up stock ahead of the Brexit on the 29th of March.

Source: Reuters, CDN

Ketakee Srivastava
I am an amateur content writer, who is currently pursuing a Masters in Finance from ICFAI Business School. In this highly volatile Business Market, I find no better way to keep myself updated than to write about it and reflect my own thoughts as words.

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