Xtra-Vision loses battle to stay in business

Around 83 movie rental stores on both sides of the border pulled the shutters down for the last time with about 580 full and part-time staff losing their jobs.

Two-and-a-half years after UK investors Hilco Capital tried to secure a new future for the chain, the High Court agreed to appoint Grant Thornton to oversee liquidation of the business.

“Our first priority is to meet and brief employees at all 83 locations and process their entitlements for redundancy,” the accountancy firm said in a statement.

“Over the coming days we will be in contact with all creditors of the company. However, it is important to note that any Xtra-vision gift vouchers will be honoured by HMV which is not affected by this liquidation.”

Eleven of the Xtra-vision stores are in the province, where 60 staff were employed in Limavady, Larne, Magherafelt, Omagh, Cookstown, Dungannon, Lurgan, Armagh, Banbridge, Newcastle and Warrenpoint.

The remaining 500-plus employees worked in 72 stores around the Republic, but sales and rentals have been shattered in recent years with the availability of online and on-demand services.