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‘Perfect storm’ for UK manufacturers as costs, credit and cash crunch looms
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Britain’s manufacturers are facing a “perfect storm” crisis of rapidly rising costs and towering debts that many fear could push them over the brink, according to a new survey.
The leading industry trade body on Monday urged the government to introduce payment holidays on loans, warning that thousands of firms faced a “tipping point” that could make their business models unviable.
Make UK said the UK’s manufacturing sector was facing “an unprecedented combination of a post-Covid credit, cash and costs crunch”. It said the UK’s factories were struggling with the burden of repaying debts racked up to get them through the pandemic as well as grappling with a raft of other challenges from supply chain disruption to shortages of HGV drivers and
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