independent

Saturday 19 April 2014

Seven jobs lost as town centre Xtra Vision closes

SEVEN full and part time jobs have been lost in Tralee following the decision of movie rental chain Xtra Vision to close its outlet in Tralee town centre.

SEVEN full and part time jobs have been lost in Tralee following the decision of movie rental chain Xtra Vision to close its outlet in Tralee town centre.

The movie rental chain, which has seen profits badly hit by competition from internet downloads and movie streaming websites such as Netflix, was sold to investment company Hilco Capital Ireland in June after the rental chain was placed in receivership.

Following the deal Hilco Capital announced it was planning to keep the majority of Xtra Visions 130 stores open with only a small number due to close.

The chain's outlet at Abbeycourt, off Tralee Town Square, was initially thought to have been saved from the threat of closure but late last week the shop's seven staff learned that the shop is to close within weeks.

Following its purchase of Xtra Vision, Hilco Capital said that it would decide on the future of individual stores following negotiations with various landlords about existing lease arrangements. It's understood that Hilco had been seeking rent reductions of between 20 and 50 per cent from landlords.

Xtra Vision's outlet at Manor West in Tralee is to remain open and any stock not sold in an ongoing closing down sale at the Abbeycourt outlet will be moved to that store. An exact date for the Abbeycourt outlet's closure has not been announced but it is expected to shut its doors in the near future.

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