THE Xtra-Vision store in Tralee has closed, as well as other stores in the chain around the country, as hundreds of jobs nationwide are expected to be lost with the appointment of a liquidator today.
The company’s owners, UK-based Hilco Capital, petitioned the court for the appointment of Michael McAteer of Grant Thornton Ireland as the provisional liquidator of Xtra-Vision Entertainment Ltd.
The store was closed in Manor West when we called up today and a sign outside directed people to contact Grant Thornton with any queries and to drop the rentals into the letterbox.
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The company operates more than 80 outlets in both the Republic and Northern Ireland employing 580 full-time and part time staff.
The bulk of the jobs at the company are likely to be lost.
The rapidly declining movie rental market and poor Christmas sales were reasons given as to why it was seeking to go into liquidation.
RTE reports that Edward Farrelly Bl for Xtra-Vision said the appointment of a liquidator would result in some of the jobs being saved but it was accepted that most of the company’s employees would have their employment terminated.
He added that any gift vouchers issued by the company will be honoured.
Xtra-vision was sold by to Hilco Capital Ireland in June 2013 for an undisclosed sum. In October of 2014, the Tralee store was dual-branded with HMV.
Another store previously operated in Abbey Court in the town centre until August 2012.
