Child Brands UK vape maker hit by single-use vape ban sales drop. Plans to launch zero-smoke tar vape products announced a delay in the release of the annual report and requested a continued suspension of stock trading.
Chill Brands disposable vape sales take a hit in the UK
The Independent reported on December 9: Chill Brands, a British vape manufacturer, said that a one-off vape ban to be implemented by the UK government next year will affect its sales. At the same time, the company is preparing to file charges of fraud and theft against former executives.
The company says it is feeling the impact of the new rules, which will come into effect next June. The government’s plan to create a new generation of smokeless vapes has also curtailed retailers’ interest in stockpiling disposable vapes, leading to a drop in sales in the UK.
Zero-ni products to be launched in 2025 in response to the ban
Chill Brands said they would continue to sell existing products, but did not expect a significant recovery in ongoing demand for these one-off products in the UK. The company hopes to hold talks with distributors to expand the product to other markets around the world and plans to launch a line of zero-smoke tar e-liquids.
The new product is designed as a reusable vape device with added smoke tar and is expected to be available in early 2025. Chill Brands, meanwhile, says it is simplifying its brand design in order to meet future marketing regulations in the vape market.
Chill said it expects the publication of its 2024 annual report to be delayed until the first quarter of 2025, and the company has asked financial regulators to continue suspending trading in its shares. He says the release of the report was a “prerequisite” to removing the suspension of trading in the shares.
Chill Brands charged the first two executives with fraud, bribery and theft. The U.S. court is scheduled to hold a hearing on December 19 to recover the assets, including the domain names.
Callum Sommerton, CEO of Chill Brands, said,
- “The delay in the company’s approval is frustrating for investors and all interested parties, but we are working diligently with interested parties to complete and publish our financial statements as soon as possible.” At the same time, we have made progress in new product development and established new business processes to support our growth objectives.”
