Xtra-Vision has been struggling for the last few years and the recent announcement of the company entering receivership may not have come as a surprise to many.
With the growth in streaming services such as Netflix and iTunes, combined with Spotify and other services, how much space there was in the market for physical DVD rentals and sales is hard to know, but one would assume it wasn’t growing.
The company, which currently employs over 1000 staff in 152 outlets nationwide, entered receivership at the end of last month.
Today’s announcement, as reported by The Journal, is that the company will be closing 9 outlets immediately and laying off around 50 staff.
The affected outlets are:
- The Square, Tallaght (seven employees)
- Rathmines, Dublin 6 (eight employees)
- Baggot Street, Dublin 4 (seven employees)
- Swords, Fingal (six employees)
- Ongar, Dublin 15 (five employees)
- Sandymount, Dublin 4 (seven employees)
- Phibsborough, Dublin 7 ( six employees)
- Carpenterstown, Co Dublin (four employees)
- Roscrea, Co Tipperary (four employees)
High street retailer HMV closed its doors in recent months though the company has since been acquired by Hilco who are planning to restructure it. Their plans for Ireland are still not clear.
- Xtra-vision in Trouble As Receiver Called in (belfastdaily.co.uk)
- Fresh gloom on high street after film rental chain Xtra-vision enters receivership (belfasttelegraph.co.uk)
- Over 1,000 jobs at risk as Xtra-Vision goes into receivership (independent.ie)
- Movie rental chain Xtra-vision which employs over 200 staff in Northern Ireland enters receivership new Movie rental chain Xtra-vision – which employs some 242 staff in Northern Ireland – has gone into receivership. (belfasttelegraph.co.uk)
- Xtra-vision appoints receivers (irishtimes.com)
- Xtra-vision stores shut in digital bid (independent.ie)
- Xtra-vision enters receivership (mcvuk.com)