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Hard Brexit is good for us says U.K. retail king

One of Britain’s leading retail bosses says his clothing chain will receive a financial boost if the U.K. crashes out of the EU without a deal.

Simon Wolfson, chief executive of Next NXT, +1.84% said government plans to cut tariffs to zero on 87% of imports, as part of a temporary no-deal plan, will benefit the firm by between £12 million to £15 million.

Wolfson, one of Britain’s most respected and influential figures in business, joins a growing number of bosses who have shrugged off concerns about a no-deal Brexit.

Last month, Ivan Menezes, chief executive of Smirnoff Vodka owner Diageo DGE, -1.40% said there would not be a material impact to the company from the split.

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