Wellbeing Company Holdings Limited (08732081): administration
- Status
- Administration ended
- Administration began
- 2018-07-11
- Formerly
- Big White Wall Holdings Limited
- Incorporated
- 2013-10-15
- Location
- London
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Parent or group failure
From the administrators' statement
The Company was incorporated in 2013 to act as an investment holding company for an established business trading as Big White Wall (“BWW”). BWW’s main centre of operations is in the United Kingdom, but there are also associated trading entities in the USA, Canada and New Zealand. Bigwhitewall Limited (“BWW UK”) was formed in 2007 and is one of the leading digital integrated mental healthcare providers in the UK with an established international market presence in Canada and New Zealand. The USA operation has not proved successful and has been discontinued. BWW UK provides services to a range of public health organisations (Clinical Commissioning Groups (CCGs), Mental Health Trusts, Local Authorities, the UK Military, Employers and UK Universities, and has served over 19,000 members, BWW UK provides its customers with access to its online mental health support program, live therapies and professionally managed peer network.
The group structure was set up so that third party investors could provide funding to the Company, which was filtered down to the various subsidiary operating companies. In 2014, Impact Ventures UK (“IVUK”) and the Whittemore Collection Limited (“Whittemore”), both of whom are offshore ethical investment funds, made an initial investment into the Company. At the same time, IVUK and Whittemore became the Company’s majority shareholders.
2.4 The US operation was set up in 2015, but it proved to be a major drain on cash. It is understood that US revenues remained weak against the high operating costs of the US office, team and ‘wall guides’.
Administrators' statement of proposals (2018-08-02) · Companies House register