The head of bathbomb and scented soap retailer Lush has given an insight into the potential damage a no-deal Brexit could cause to his business.
Mark Constantine has lambasted the government’s approach to negotiations and its attitude towards businesses as the firm’s financials took a swung from a £23m profit to £4m operating loss last year.
He commented that: “Brexit is the most impactful thing on our business because of the sheer incompetence of the government.
“You can’t be the party of business and be anti-immigration. I believe we are heading into a recession and a lot of that has been caused by the government.”
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Constantine also gave an insight into the potential damage that no-deal Brexit could cause to the business, estimating a £2.6m World Trade Organisation tariffs bill whilst product stockpiling could cost another £1.3m.
The company has already set-up a new factory in Germany to handle EU orders which had previously been serviced from the UK.
