UK firms fret over likelihood of no-deal

British companies are fearing the worst and are preparing for the United Kingdom to crash out of the European Union without a post-Brexit trade deal in place.

The British Chambers of Commerce said businesses are making contingency plans, with many preparing to leave the UK and others stockpiling goods in anticipation of post-Brexit no-deal chaos.

Matt Griffith, director of policy with the west of England branch of the BCC, told The Guardian that companies are protecting themselves and that they have ramped up efforts after members of Parliament defeated British Prime Minister Theresa May's proposed Brexit withdrawal bill on Jan 15, by a massive 432 votes to 202.