Wherever you stand on the Brexit debate, what is not in question is the effect on sterling of merely the decision to Brexit. Reports are beginning to surface now in reputable newspapers and news websites about how the fall in the pound is having an adverse effect on some food companies.
We read recently how a family-run food supplier in Tonbridge, Kent has gone into administration after 31 years supplying local restaurants and supermarkets.
Southern Salads apparently produced over 50 tonnes of salad per day but its reliance on European companies for its supplies left it exposed when sterling went from being worth around E1.30 to in the region of E1.09 today.
It’s always sad to see a successful small business go to the wall because of circumstances beyond their control but in this case, it’s even more distressing as the local economy is losing about 260 jobs it will find hard to replace.