Chartered accountants have "significant doubt" about the viability of the former Spice Girls singer's company.
Victoria Beckham's fashion and beauty companies are posting losses of £66m, according to their balance sheets.
The former Spice Girls singer, who launched her own fashion line in 2008 with a small collection of dresses, reported a loss of £5,887,036 in 2021, down from a loss of £8,581,944 in 2020, thanks to the expansion of bags, outerwear, shoes and other accessories.
The accounts, first published by the Daily Mirror newspaper, show that Victoria Beckham's fashion company is making a loss of £66.3m and shareholders, who include the 48-year-old singer and fashion designer and her husband David Beckham, have no receive dividends.
The company is expanding into more and more markets across Europe and the Middle East as it launches other products such as the new VB Body and leather goods ranges.
Despite the losses, the couple revealed that the rest of their international business has turned a profit with financial statements filed at Companies House showing they made £11.6m during the height of the COVID-19 pandemic.
The 2021 accounts forced chartered accountants to warn them of their "significant doubts" about the viability of Victoria Beckham's fashion company, which has been defended by people close to her.
"It's what gives Victoria her identity, she loves it and despite the obvious obstacles, she's hardworking and extremely passionate about it," a source said.
In early 2021, it was reported that Victoria Beckham's beauty expansion, which debuted in 2019, recorded a loss of £4.7 million.
At the time, a spokesperson said: “While 2019 was a difficult year, the company halved its losses – a significant step on the road to profitability. The launch of the highly successful beauty range in the same year helped to increase total revenue by 7% compared to 2018 and both companies are focused on profitable growth.
"The presentation of the recent Fall/Winter 2021 fashion collection was warmly received by fashion critics and the beauty company has seen multiple sell-outs of its products in recent months," he added.
