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UK can avoid no-deal ‘Brexit chaos’, says Next CEO

Next CEO Simon Wolfson has said he believes that the UK will avoid “serious disruption” in the case of a no-deal Brexit.

Speaking to the BBC’s Today Programme, Wolfson, who supported the Leave campaign in 2016, believes a no-deal Brexit will only lead to “mild disruption”.

He said the government’s increased focus on contingency planning meant the UK was close to being well prepared, but also expressed hope that a deal would still be possible before 31 October.

Wolfson’s comments follow warnings he made in November, that a no-deal Brexit would result in “chaotic gridlock” at UK ports, posing a “serious risk” to Next.

Wolfon said: “We are a long way from disorder and chaos, the fact that HMRC has introduced these transition methods will make an enormous difference. I think the encouraging thing is that we are rapidly moving from the disorder and chaos camp to the well-prepared camp.”

He also believed the last government had “failed to adequately prepare” – a situation that was now being addressed.

Next, one of the largest retailers in the UK raised its profit forecast last month, after full price sales in the first half of the year, were up 4.3%.

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