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David Beckham’s Cellular Goods Merger off – its now a full on cash crisis

By Tom Winnifrith | Wednesday 8 February 2023

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

The proposed RTO with Cannary Limited never made sense. Cannary – as fronted on nauseating TV ads with Claudia Winkleman – had a horrible balance sheet with huge liabilities and is burning cash. Cellular Goods (CBX)  has cash ( £4.37 million at August 31) but spunked it at £500,000 a month last year. So this proposed deal was like two drunks propping each other up. But now the transaction announced on 26 September is OFF. What next?
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