A FIRM backed by David Beckham that makes use of cannabis-derived chemical substances to make skincare merchandise has slumped.
Cellular Goods suffered a pre-tax loss of nearly £6million within the yr to August 31 after a £3.33million loss final yr.
1Ex-England captain and pop of 4 Becks, 47, owns round 5 per cent of the London-based firmCredit: Alamy
Bosses blamed greater prices, slower than anticipated gross sales in addition to difficult trade and regulatory circumstances.
Ex-England captain and pop of 4 Becks, 47, owns round 5 per cent of the London-based firm.
It raised £13million when it launched on the inventory market final yr amid fanfare concerning the cannabinoid sector.
The firm, whose shares fell nearly 24 per cent yesterday, plans to amass rival Cannaray Brands.
Chairman Darcy Taylor stated the goal was to “speed up development and generate long-term worth for shareholders”.