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Report: Tesco rents frozen food containers as Brexit looms

British grocer Tesco PLC is renting refrigerated containers to increase its frozen food storage capacity in the event that the U.K. departs the European Union without a deal that covers trade, the Financial Times reported Jan. 16, citing an internal memo.

Refrigerated containers that Tesco rented over the Christmas period "are now planned to stay on site for the rest of the year as part of a contingency plan due to Brexit," the newspaper reported, citing Tesco's communication to store managers.

The FT said Tesco declined to comment on the report. However, CEO Dave Lewis reportedly told reporters in the week of Jan. 7 that the company was "working with our suppliers to think through sensible opportunities to improve stockholding closer to the market."

Lewis previously told The Independent in an October 2018 interview that the company is planning to stockpile food in the event that Britain exits the European Union without a deal.

In contrast, Tesco rivals Wm Morrison Supermarkets PLC and J Sainsbury PLC are not planning to add extra cold storages, the FT said.