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Pin to quick picksMarks & Spencer Share News (MKS)

Share Price Information for Marks & Spencer (MKS)

London Stock Exchange
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Share Price: 273.80
Bid: 272.20
Ask: 272.40
Change: -3.00 (-1.08%)
Spread: 0.20 (0.073%)
Open: 276.70
High: 277.50
Low: 272.10
Prev. Close: 276.80
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UPDATE 1-German haulier suspends UK-bound shipments to clear backlog of incorrect documents

Wed, 13th Jan 2021 19:18

(Adds details on expected shipment volumes, Brexit background)

By Ludwig Burger

FRANKFURT, Jan 13 (Reuters) - German logistics group DB
Schenker said it would stop accepting Britain-bound consignments
for the time being after the Brexit trade deal between the
European Union and Britain left customers confused over customs
requirements.

The haulier, a subsidiary of Germany's state-owned railway
group Deutsche Bahn, said on Wednesday it needs to clear a
backlog of missing or wrongly filled-in customs forms before it
can accept any new business because only about one in ten
UK-bound shipments are fully documented.

DB Schenker is the leader in European land transport serving
auto makers, drugmakers and retailers, among other industries,
according to its website.

In its statement, the company pleaded with customers to
familiarise themselves with the new paperwork requirements and
pointed to specially trained DB Schenker staff for assistance.

"DB Schenker expects a further increase of shipments in
January. The logistics service staff will only be able to
process these swiftly if there is a considerable rise in the
rate of shipments with complete papers."

The transition to the new trade regime has been bumpy.
Scottish fishermen have warned that the trade deal has disrupted
their export routines and put their business at
risk.

British retailer Marks & Spencer said last week the
new rules was responsible for near-empty fresh-food aisles at
some of its stores in Ireland.

Prime Minister Boris Johnson said on Wednesday that problems
in supplying supermarkets in Northern Ireland might prompt
Britain to trigger safeguard provisions in the divorce
deal.
(Reporting by Ludwig Burger;Editing by Elaine Hardcastle)

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