Galway Bay fm newsroom – Xtra-Vision, which has five stores across the city and county, is closing all its stores nationwide with immediate effect following the appointment of a liquidator.
The company’s owners, UK-based Hilco Capital, petitioned the High Court for the appointment of Michael McAteer of Grant Thornton Ireland as the provisional liquidator of Xtra-Vision Entertainment Ltd.
The company currently operates about 80 stores in the Republic and Northern Ireland, including stores at Galway Shopping Centre and in Knocknacarra, Loughrea, Oranmore and Tuam.
In court this afternoon, Mr Justice Paul Gilligan was told the rental stores are insolvent and unable to pay their debts.
Meanwhile, music store HMV at Edward Square in the city – which is owned by the same parent company – is to close this Saturday with the loss of 10 jobs.
Liquidator Grant Thornton says its first priority is to meet and brief employees at all 83 locations and process their entitlements for redundancy.
The liquidator will also be in contact with all of Xtra-Vision’s creditors.
