The closure of Xtra-vision in Longford last week was no surprise as the Closing Down Sale signs had been displayed on the shop since before Christmas.
In the industry, many thought there might be a reprieve for Xtra-vision, which has been in and out of insolvency over the past number of years, but it would appear that the brand’s future is online now.
In Longford, the brand has a DVD vending machine at Hazelwood Shopping Centre and it would appear that this will be the only presence Xtra-vision will retain in the town, and county.
“Grant Thornton can confirm that Michael McAteer has been appointed provisional liquidator of Xtra-Vision Entertainment today (Wednesday).
“ Our first priority is to meet and brief employees at all 83 locations and process their entitlements for redundancy.
“ 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.”
A total of 580 jobs were lost last week as Xtra-vision went into provisional liquidation. It is thought the store employed less than 10 people in Longford.
Owners Hilco Capital blamed weak trading in the run-up to Christmas for the the decision.
Hilco Capital cited the rise in online streaming, video piracy and illegal downloading as partly to blame for the decision to seek provisional liquidation.