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Former Sainsbury’s boss says Brexit will have a bigger impact on food and drink than Covid

Brexit Has a great impact on food And more than the beverage industry COVID PandemicFormer boss of SainsburyIs warning.

Justin King said at a convenience conference in London on Thursday. price Will rise due to supply chain issues.

“Two years later, you’ll notice that Brexit is bigger news than Covid,” King said. “I think it’s already clear that it’s true, so the workforce associated with your business becomes a much more expensive resource, which radically changes productivity and your approach to it. Means

“Much of what is happening with this is new and normal. Our work situation in the UK is now structural and long-term, and there is a real lack of political will to classify it.”

Justin King, who predicted that Brexit would lead to “increased prices, fewer options, and lower quality” in 2017, added: “The Irish Sea has borders. Changing the essence of business will never disappear.”

King also warned of rising prices, saying the industry was in a “midlife crisis,” adding that “we still have a long way to go and we have no idea what that is.” I did.

Justin King resigned in 2014 after serving as CEO of Sainsbury’s parent group J Sainsbury plc for 10 years. Previously, he was Director of Food at Marks & Spencer and held senior positions at Asda.

His comments are the latest in a series of warnings from sector chiefs about the impact Brexit has on the food and beverage industry. On Thursday, Co-op CEO Steve Murells said supermarket prices were “coming” due to supply chain issues.

As the industry addresses a serious shortage of workers and rising commodity prices, Murrells said supermarket chains appear to offset costs “as much as possible”, but “some of them are customers. Filter. “

Marks & Spencer also announced Thursday that it would have to close 11 stores in France for Brexit.

A typical British brand said supply chain problems caused by Britain’s departure from the European Union made it “nearly impossible” to maintain standards and keep shelves full.

Paul Friston, International Director of M & S, said: As a result, it will have a continuous impact on the performance of our business.

“We have agreed with SFH to close all 11 franchise stores as there is no practical alternative to high street stores.”

Currently, there are about 500,000 jobs in the food and beverage supply chain, and worker demand is driving wage inflation, which can be passed on to customers.

Former Sainsbury’s boss says Brexit will have a bigger impact on food and drink than Covid

Source link Former Sainsbury’s boss says Brexit will have a bigger impact on food and drink than Covid

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