By Michael Susin
Chill Brands Group PLC said Friday that it expects revenue for fiscal 2022 to be lower due to supply chain delays, and that is looking for a partner in the U.S. for manufacturing its products.
The cannabadiol-products company said orders valued at around $1 million may not all become recognizable revenue by the end of the current fiscal year due to delivery delays, as the supply chain has been affected by geopolitical issues.
The company said, however, that it is confident that remaining orders will be placed during the first half of the next fiscal year.
Chill Brands added that since the start of the new calendar year, it has successfully eliminated many of the logistical issues by establishing a new distribution and fulfillment arrangement in the U.S.
“As a result of the disruption to its supply chain, Chill Brands is actively seeking to onshore the manufacturing of its products through the establishment of a North American strategic partnership”, it said.
Write to Michael Susin at [email protected]
