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Economic Development

The North West firms worried about Brexit and 'slow death' uncertainty

Some companies see Brexit as an opportunity - but that's certainly not the case for all

We have rounded up several prominent North West firms known to be concerned about the º£½ÇÊÓÆµ's departure from the EU, and the consequences surrounding it

It's now less than a month to go until Brexit, with the º£½ÇÊÓÆµ seemingly no closer to agreeing a deal with the European Union over the terms of departure than it was when voting to leave in June 2016.

While some businesses from across the North West see Brexit as an opportunity, there are firms undoubtedly worried about what it will mean for their books.

Here, as part of BusinessLive's Brexit Month, we round up several prominent North West firms known to be concerned about the º£½ÇÊÓÆµ's departure from the EU, and the consequences surrounding it.

Jaguar Land Rover

Jaguar Land Rover is one of those well known to be affected by ongoing Brexit uncertainty.

So much so that its chief executive announced after months of speculation that it would close its plants in the first week of November to “adjust production”.

The Jaguar Land Rover plant in Halewood(Image: Andrew Teebay)

 

Announcing its decision last week, a statement from the firm, which has plants in Halewood, Merseyside and another in Solihull, said: “Jaguar Land Rover confirms that it will be suspending production at all º£½ÇÊÓÆµ manufacturing plants for one week commencing 4 November 2019. This prudent decision reflects the need to adjust production in the face of ongoing uncertainty caused by global external headwinds, including Brexit, which have impacted our sales volumes.”

Dr Ralf Speth revealed the plan while formally opening the car maker’s new Advanced Product Creation Centre in Gaydon, Warwickshire.

Asked whether the firm was thinking about shutting its British factories in the month after Brexit is due to take place on October 31, Mr Speth said: “We cannot think about it, we just have to do it.”