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Xtra-vision to close 28 stores after Christmas

It’s understood that the decline in DVD rental is causing the closures.

Image: Sam Boal via RollingNews.ie

XTRA-VISION IS  SET to close 28 stores, which will affect up to 90 employees.

A store manager told TheJournal.ie that the closures are likely to happen at the end of January, when the leasing agreements are up for certain stores.

It’s understood that the decline in DVD rental is causing the closures.

BBC reports that eight stores in Northern Ireland are set to close, with the loss of 18 jobs.

The company will not be renewing leases that were due to come to an end at the start of February.

A statement released to The Irish Independent by the company said that a consultation process is underway with staff.

Reflecting the changing dynamic in consumer behaviour as customers favour the retail opportunity in the entertainment market, Xtra-vision is condensing its store portfolio to a smaller number of focused retail locations.

The company added that it will ‘remain dedicated’ to its vending machine operation Xtra-vision Express and online channels.

It’s understood that the majority of store managers were called about the closures yesterday.

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HMV owner Hilco Capital bought Xtra-vision when it went into receivership in 2013.

Calls to Xtra-vision’s representatives from TheJournal.ie today were not returned.

Read:  Avoid Xtra-vision because of late returns? Fear no more…>

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