Canvas 4 Life Limited (06608125): administration
- Status
- Administration ended
- Administration began
- 2013-04-25
- Incorporated
- 2008-06-02
- Location
- London
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Competition / price pressure
- Cash flow / liquidity pressure
From the administrators' statement
Canvas 4 Life Ltd was incorporated in June 2008 and commenced trading in October of that year The main purpose of the Company was to sell canvas prints (from user generated digital photos) online The Company invested heavily in 1ts website and custom canvas building platform
The company was founded by Tim Wickham, a qualified Chartered Accountant with previous business experience Funding for the Company was initially in the form of secured bank loans and, in time, was increasingly funded by family and friends of the shareholders
Growth in 2009 was significant as the Company invested heavily in new customer acquisition The primary method of customer acqutsition was through search engines, mainly Google In 2009 / 2010, the lack of competition made this a viable business model with Costs of Customer Acquisition (COCA) at a level where profits could be made when looking at a customers deemed value over 12 months
Administrators' statement of proposals (2013-06-17) · Companies House register