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Quokka goes Chapter 11, its assets to be sold

by News Editor on 30 Apr 2001
Quokka Sports, the US-listed Internet company founded by America's Cup Australia II skipper John Bertrand filed for Chapter 11 bankruptcy protection in the United States in preparation for an urgent asset sale.

Quokka at its peak, employed close to 700 staff to provide live online coverage of sporting events, including the Sydney Olympics and Whitbread Round the World yacht race. Its major coverage was of mountain climbing and yacht racing.

Not unsurprisingly was unable to find enough advertisers to cover its burn rate which averaged a million dollars Australian weekly.

It is reported that the web site addresses including golf.com and nbcolympics.com are for sale. A number of companies are considering buying Quokka's stake in its Olympic Website joint venture with NBC.

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