Brexit “considerably worse” than expected, says JD Sports chairman

"The new system and red tape just slows down efficiency"

The chairman of JD Sports has admitted that Brexit has been "considerably worse" than he anticipated. Peter Cowgill explained in an interview given to the BBC that new UK-EU trade regulations, which came into effect at the start of the year, and delays in shipping goods to Europe had seen additional costs which amounted to "double-digit millions" for the sports-fashion retailer. Cowgill refuted the suggestion there was any true free trade with the EU after Brexit, saying that goods imported by JD from East Asia incur tariffs when they go to its stores across Europe. "I actually think it was not properly thought out," he said. "All the spin that was put on it about being free trade and free movement has not been the reality.