Tuesday 21 November 2017

Xtra-vision sold to HMV owner Hilco Capital

FILM rental chain Xtra-vision has been sold to Hilco Capital for an undisclosed sum.

Hilco, which recently acquired HMV in Ireland and the UK, will now take control of the chain’s business, its stock and headquarters in Dublin’s Tallaght.

The company’s chief executive Paul McGowan said the business would be a “good fit" alongside HMV and a transfer of the stores will take place gradually alongside discussions with landlords over the terms and conditions of leases.

Xtra-vision entered receivership in late April – it blamed its woes on online streaming and piracy.

When it entered receivership there were over 1,000 employees at the group but last month plans to close nine outlets with the loss of over 50 jobs were announced.

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