Brake – Brexit uncertainty threatening Capita

Business services firm Capita today posted a £513m loss and announced a £701m rights issue to fund a restructuring.

The company’s serious difficulties began after the June 2016 referendum and in September last year said Brexit was a key factor in its widening losses.

 

Commenting, Tom Brake MP, a leading supporter of the People’s Vote campaign, said:

“Capita’s problems are deeply rooted in Brexit and the uncertainty and risk it has brought to so many world-leading firms based in Britain.

“With thousands of jobs at stake it is essential that Capita’s board are successful in restructuring the company and returning it to profit.

“But with the Government refusing to answer so many of the big questions about Brexit, the uncertainty is only going to continue.

“With the risks Brexit brings to UK businesses and to jobs, everyone is entitled to keep an open mind and to demand a People’s Vote on the final deal.”

/ends

 

Notes to editors

Last September’s coverage can be read here: https://www.bloomberg.com/news/articles/2017-09-21/capita-drubbed-as-clients-cut-back-amid-brexit-belt-tightening