Although meant as a step toward contingency planning rather than an admission that talks with the European Union have ground to a halt, the U.K. government on Thursday released a set of 25 documents to help companies prepare for what could be their worst nightmare—a “no deal” Brexit.

Neil Hodge is a freelance business journalist and photographer based in Nottingham, United Kingdom. He writes on insurance and risk management, corporate governance, internal audit, compliance, and legal...