Victoria Beckham’s fashion firm has lost £42million and needed £16m bailout from mystery shareholders

VICTORIA Beckham’s fashion firm went £12.2million into the red again last year — taking her total losses to a monstrous £42million.

Posh’s ballooning debts also saw her forced to take a bailout of £16 million from shareholders, whose identity remains a mystery.

But around the same time accounts for husband David’s firm, Footwork Productions, show he invested £15.5million into an unnamed business described as “an associated company”.

Victoria, who is mired in debt to the tune of £23.8million, needed the financial injection after failing to meet the terms of a loan with banking giant HSBC.

In 2016 the business made a loss of £8.2million followed by another in 2017 of £10.2m. But the 2018 figure is the highest loss yet.

Her annual accounts sent to Companies House this week said: “Whilst revenues and profits were down in 2018, the businesses performed in line with shareholders’ expectations by cutting costs, focusing on its digital channels and refining the product to more closely reflect Victoria Beckham’s aesthetics and values.”

The accounts show that on three occasions in 2018, Victoria breached the terms of the business’s loans and needed the bailout to fulfill them.

They also say the business had: “Commenced its negotiation with the bank for a refinance and the negotiations are still under way.”

It adds that if the terms of the loan are breached in future: “There are levers that the business can pull at short notice to generate cash.”

Although £41.7million went through her tills, revenue was down 16% at 35.1million.

The report from accountants said the drop in cash was due to: “reduced volumes of wholesale trade in international markets”.

The blow for Posh came after David’s other company, DB Ventures, this week revealed its profits for last year halved from £23.2million to 11.5million.

The business handles all the cash from selling Brand Beckham around the globe through lucrative endorsements.

From those profits he paid £11.5million into the family business Beckham Brand Holdings, which he owns with Victoria.

David has already had to provide financial support to his wife’s fashion business worth almost £17million, but his new accounts show this had increased last year by a further £600,000.

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