Bonningtons has been preparing for a possible Brexit, and say it's now in a good position to "support customers through what is bound to be a turbulent few months."
Owner and chief executive Ian Fisher said: "We've been building contingency plans for some time and our buying team have made several extra trips to the Far East to line up some great deals. Our 20-strong China team are working on an aggressive sourcing plan that will help us to stabilise our landed costs."

Bonningtons has several months US$ in hand purchased at favourable exchange rates, and an additional £6million stock holding to see them through the early part of the next season.

Additionally, they have recently secured a great new freight deal which is delivering savings to help offset the challenges faced in exchange rate fluctuations.

Mr Fisher added: " The great news is that over the past few months we've invested significantly in the future development of the business, adding new brands, new products and a raft of new process and support systems to bring Bonningtons to a whole new level. The business has grown very rapidly in the past couple of years and we're ready to move on to the next stage. I'm not going to allow market volatility and uncertainty prevent us from achieving our goal of £50m within the next 2 years."

Bonningtons sales director Sergio Tartaglia added: "So, whilst we can't predict what will happen to future rates, nor can we guarantee complete price stability, we have done everything we can to maintain our competitive pricing. We'll be sharing our new plans and the exciting future for Bonningtons with all our customers at GLEE and I'm looking forward to the next phase of our exciting growth plans."

For a full round up of industry responses to Brexit, see the July 15 edition of DIY Week.