THE Xtra-Vision store in Tralee has today closed its doors for what looks to be the final time after a liquidator was today appointed to the company.
The move is expected to see hundreds of jobs being lost around the country as multiple stores in the chain cease trading nationwide.
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 closed store in Manor West cut a dark and lonely figure this afternoon with a sign posted on the door directing anyone with any questions or queries to contact one Grant Thornton.
The sign reads: “Xtra-Vision ceased trading today 27th January 2016 and entered Provisional Liquidation. Michael McAteer of Grant Thornton was appointed Provisional Liquidator.
“We would be grateful if you return your rentals through the letter box or if you have any enquiries, please contact the offices of Grant Thornton on +353 1 6805 805.”
Over 580 jobs are expected to be lost.
The writing had sadly been on the wall for the chain for a while now it seems with the dwindling movie rental market and a poor Christmas performance the reasons behind the liquidation.
In an RTE report on the matter earlier today, 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 would be honoured.
The company operates more than 80 outlets in both the Republic and Northern Ireland, and related company Xtra-vision Ireland Ltd which owns the stock.