The Courier-Mail

Quick­flix scram­bles to get house in or­der with re­view


STREAM­ING video ser­vice Quick­flix has launched a ma­jor re­view aimed at re­viv­ing its strug­gling busi­ness.

The com­pany’s shares have been sus­pended from trade while it un­der­takes a re­struc­ture – ex­pected to take at least a month – to re­move costs and se­cure new funds.

Sub­scriber num­bers fell 12 per cent in the three months to June as new com­peti­tors, most no­tably Net­flix, en­tered the Aus­tralian media mar­ket.

A part­ner­ship deal be­tween Quick­flix and Presto re­cently fell through, and a deal to buy a Chi­nese film and TV com­pany also failed to even­tu­ate.

Quick­flix shares last traded at 0.1 cents.

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