BikeBiz Bicycle and cycling retail news
Brompton has stockpiled £1 million worth of bike parts to guarantee supplies for its west London factory in case of a hard Brexit, the Guardian reports.
The foldable bike maker has reportedly rented a warehouse near Heathrow to store an extra month’s worth of supplies in case imports of key items are held up by problems at ports if no deal is reached with the EU.
The news comes as the company reports an increase in turnover of 11 per cent to £36.1 million in the year to March 2018.
Will Butler-Adams, chief executive of Brompton, said: “Taking storage [has cost us] £50,000 but the implications of running out [of parts] could be £50,000 in a few days.”
He said Brompton had hired advisory firm Grant Thornton to help it with planning and identified imports of parts as a key risk.
“The most important thing is that we are going to continue to make it through Brexit. The rest we’ll muddle through,” he added.
