The firm surveyed attendees at the Pinsent Masons Restructuring and Insolvency Conference last week, to gauge their views towards some of the issues impacting the industry in 2016. Of the over 400 attendees at what is the largest industry conference in Europe, 62% believed that business failures would increase in the aftermath of the UK’s vote to leave the EU.
“Although consumer spending has yet to be impacted dramatically, any continuing fall of the pound is likely to translate into more cautious consumer spending as imported goods increase in price,” said insolvency law expert Nick Pike of Pinsent Masons. “The UK’s manufacturers are also likely to see increased prices for imported parts.”
“Very little is clear about the ter…
Read the full article at: http://www.out-law.com/en/articles/2016/october/brexit-manufacturing-and-retail-businesses-at-biggest-risk-from-economic-uncertainty-according-to-survey/