A David Beckham-backed COMPANY that uses cannabis-derived chemicals to make skin care products has collapsed.
Cellular Goods suffered a pre-tax loss of almost £6m in the year to 31 August, after a loss of £3.33m last year.
Bosses blamed higher costs, slower-than-expected sales, and difficult industry and regulatory conditions.
Ex-England captain and father of four Becks, 47, owns around five per cent of the London-based firm.
It raised £13million when it went public last year amid fanfare about the cannabinoid sector.
The company, whose shares fell nearly 24 percent yesterday, plans to acquire rival Cannaray Brands.
Chairman Darcy Taylor said the goal is to “accelerate growth and create long-term value for shareholders.”
https://www.the-sun.com/sport/6982700/cannabis-skin-care-david-beckham-losses/ Cannabis skincare company backed by David Beckham suffers £6million losses