Irish entertainment retailer Xtra-vision has gone into receivership.
InsideIreland reports that Ernst and Young's Luke Charleton and Colin Farquharson have been appointed as joint receivers. The pair are actively seeking a buyer for the chain and claims to already be in talks with a number of interested parties”.
Its first move is to close nine stores in the Republic of Ireland and 11 in Northern Ireland.
112 jobs have been put at risk by the move, though it is hoped that many of those affected will be able to relocate to other stores. The chain employs a total of 1,023 workers across 152 stores.
Gift cards are still being accepted at the remaining stores.
It is regrettable that we have had to schedule these store closures,” Charleton stated. We are extremely grateful to the employees and management at all the stores for their loyalty and support during what has been a very difficult and uncertain time.”
The stores listed for closure are as follows:
Yesterday it was revealed that HMV Ireland could be making a comeback.