Quickflix suspended from trading permanently as death spiral continues

Troubled streaming movie service Quickflix had another nail hammered into its coffin today as it joined a raft of companies suspended from trading on the Australian Securities Exchange (ASX) for failing to pay listing fees.

The shares have been in a trading halt since August 2015 as the company fought to avoid insolvency, with administrators appointed in April.

Suspension of the company’s permission to resume trading – as unlikely as it appeared – comes as the clock winds down on the bid by administrators to find a buyer for the company.

In May, the Supreme Court of Western Australia give the company a six-month reprieve from a second meeting of creditors which would likely have seen it wound up.