Xtra Vision to be placed into Receivership

Jason Todd

Link

A receiver is expected to be appointed to Xtravision today.

The rental and games company employs 1,024 people in its shops across the island of Ireland.

All of the company's stores are to remain open while a buyer is found by receivers Ernst and Young.

According to sources, the withdrawal of credit insurance and a downturn in rentals led to decision.

Retail Excellence Ireland - which represents retailers - blames the Government's "lack of focus" on the needs of the domestic economy.

from Spin1038.

Shame, hope a buyer is found. the writing was on the wall when HMV went though I suppose. Call me old-fashioned, but I like going down to my local Xtra vision and browsing the new releases on a Friday night.

maximoose

Surprised it took this long really, I don't know of anyone who still rents films.

Alpha Dog 1

Haven't they not been in receivership since 2011.

http://www.insolvencyjournal.ie/news_more_details/11-05-05/Interim_Examiner_appointed_to_Xtra-Vision.aspx

Gorilla Rising

Xtra Vision - a 17 year old blind three-legged dog with chronic arthritis. Just die already.

meoklmrk91

I hope they find a buyer, I have to say I really like xtravision. Their popcorn is serious. They are often much cheaper than GameStop for games. And usually have done great deals on. I will miss it of it goes.

Galvasean

I'm surprised it outlasted HMV, although you have to hand it to them for lasting as long as they did.

sweetie

Jason Todd wrote: »

Link



from Spin1038.

Shame, hope a buyer is found. the writing was on the wall when HMV went though I suppose. Call me old-fashioned, but I like going down to my local Xtra vision and browsing the new releases on a Friday night.

you're old fashioned!

I buy games and accesories from them and would certainly miss them but Netflix, itunes, sky go, xbox etc. provide me with my movies now!

sumsar

Yeah they tried desperatly to hang on, gotta give them credit for trying, even noticing in their stores how they now sell cards, candy, popcorn slush puppies, some stores sell wine etc etc even tried the ole internet cafe they did.

But alas, couldn't escape it forever.

krudler

I genuinely haven't rented a movie in over 10 years at this stage, never saw the point tbh (although my 30% staff discount in hmv helped :pac: ) and even less so now with so many ways to watch movies on demand, they were handy for games sales though, at this rate it'll only be smyths and gamestop doing games. weren't they meant to move entirely away from rentals at one point?

Sleepy

I'd be another person who's amazed they've lasted so long.

There'd be very few under 25 who'd still rent movies. Why would they when the movies are available on torrent sites as soon as, or often before, they're released on DVD and with modern broadband, can be downloaded in a shorter time than it'd take you to pop down to their store?

Loughc

False 9 wrote: »

Xtra Vision - a 17 year old blind three-legged dog with chronic arthritis. Just die already.

Harsh considering 1,024 people will be out of a job when it eventually does die.

Galvasean

Loughc wrote: »

Harsh considering 1,024 people will be out of a job when it eventually does die.

Indeed. There were people celebrating when HMV closed down. WTF is wrong with people?

Penn

Whatever about renting stuff... Where are people supposed to buy dvds and games now? With HMV all but gone, it'd be a real shame if XtraVision closed too. Thank f*ck AIB sent me out a Visa Debit card. Now I can buy stuff online (which seems to be the only way to go now).

Hopefully at least some of the bigger stores will stay open. Some XtraVisions though are incredibly small and cramped, with a very poor selection, within a few miles of much larger stores and should have been gotten rid of long ago.

Can't imagine going into Tesco just to browse the latest DVD releases.

SCOOP 64

Agreed with some on here, will be a shame to see it go, hope they find a buyer , found most staff in xtravsion very good ,im not even a member,but like taking my boys in for for the used xbox games , my 2 young lads will be very upset to see it go!

A2LUE42

I bought a game in xtravision this week. It was cheaper than Gamestop. I would hate to see them close, as it would leave an even smaller pool of shops to chose from.

krudler

Galvasean wrote: »

Indeed. There were people celebrating when HMV closed down. WTF is wrong with people?

Usually the people who never even shopped there. I dont buy physical media much anymore but it was handy to have it there, and their games were really good prices for new releases. Last week I wanted something on blu-ray and totally forgot I cant just stroll into hmv anymore for it

Decuc500

I was looking to watch a recently released film a couple of weeks ago. It wasn't on Sky, wasn't on Netflix. I couldn't see where I could 'legally' watch it otherwise. I rented it from Xtravision.

At least they have all the new releases and you don’t have to subscribe to 3 or 4 different streaming providers that have divided up all the new releases between them. I’ll miss Xtravision if it goes. Until Smart tv’s and high def quality steaming are the norm I’ll be sticking with blu-ray.

DR GOODMAN

Didn't have any dealings with them since about 2000, I found them to be pretty ****e tbh

Rabidlamb

I wonder how many of us have Xtra-Vision cards in our wallets that haven't been used in years.
Ah the memories of being fined 50p for not rewinding a tape.
The shame of going to the counter knowing you owed a fine & hoping it wouldn't be mentioned.

Xtra-Vision knew this day was coming decades ago, why they never used their name for an online distribution service is beyond me.
Your the most recognised brand in the marketplace & you don't use it to your advantage.
It's all a bit sad really.

Penn

Rabidlamb wrote: »

Xtra-Vision knew this day was coming decades ago, why they never used their name for an online distribution service is beyond me.
Your the most recognised brand in the marketplace & you don't use it to your advantage.
It's all a bit sad really.

Agreed. How they and HMV never tried to really capitalise on the online market was their own downfall. Even in the past year or two, XV have resorted to selling greeting cards and some stores even sell toys. They were trying to keep up with the online market instead of partly becoming one themselves.

Bullseye1

I generally buy some of their second hand BDs or ex-rentals. Only occasionally would i rent when I wasn't confident of a blind buy. I'll be very sad to see them go. Hopefully they can pull through.

DR GOODMAN

what's the deal with that lobby group blaming the government? do they expect the government to make renting DVDs mandatory ?

pixelburp

Hope they don't go to the wall. It's worth repeating some of the comments that were brought up in the HMV thread; that whilst some may crow & say "about time, they were rubbish", the fact of the matter is that Xtra-Vision sinking would be another option for the consumer gone & further narrow the market; this means online retailers get an even greater monopoly, and Supply & Demand dictates we could see an increase in prices - even among these much-vaunted, 'cheaper' online stores. We need the physical stores to keep the online varieties honest in their pricing

Deisler

Are they still accepting gift vouchers?

Bullseye1

Illegal digital piracy is costing the government over €270 million Euro a year according to the news.

Minderbinder

Speaking for my local Xtra-Vision I'm really not surprised though disappointed all the same. It's a badly run shop and whenever I go in there looking for something specific they never have it. Wanted to buy Pro-Evo last in November and they didn't have it or offer to order it in. The staff are pretty clueless in general. You'd think people working there would have an interest or take an interest in their products but they didn't seem to. Same generic questions every time with no personality.

Headshot

Really horrible news. More people out of work now. I heard its also the ridiclous rents (building rent) they have to pay which is a big concern too

I dont believe its piracy that is causing it. They just didnt move with the times in getting a download music, films going like what sky does. Im going to miss my local xtra vision anyway

kippy

False 9 wrote: »

Xtra Vision - a 17 year old blind three-legged dog with chronic arthritis. Just die already.

1000 jobs and that's the best you can do?
Really?

Goldstein

Fingers crossed they can keep it afloat. Even if a few of the quieter stores will close hopefully with some restructuring the majority can remain open. If it were to go Xtra-vision would be sorely missed throughout the country by employees and customers alike.

krudler

Rabidlamb wrote: »

I wonder how many of us have Xtra-Vision cards in our wallets that haven't been used in years.
Ah the memories of being fined 50p for not rewinding a tape.
The shame of going to the counter knowing you owed a fine & hoping it wouldn't be mentioned.

Xtra-Vision knew this day was coming decades ago, why they never used their name for an online distribution service is beyond me.
Your the most recognised brand in the marketplace & you don't use it to your advantage.
It's all a bit sad really.

I don't understand why companies like this don't adapt with the times, instead of complaining nobody rents anymore embrace it, move to sales only with an online service, we were telling hmv managment years ago itunes would kill the singles market, wouldnt believe it, look what happened there.

missingtime

I used to work for Xtra-Vision on two separate occasions and really enjoyed working there so it's a shame to see them in trouble.

Echoing what others have said, the should have tried to invest into a streaming model; perhaps doing some deal with one of the broadband providers.

I know my Dad will miss being able to going to Xtra-Vision for a movie although he's moving towards downloading and streaming movies as well.

Arawn

****ing add 5e to all games in gamestop now like they did when game and hmv closed

brianregan09

I think alot of the bile coming from people comes from when Xtra Vision came in 1st they ran every other video shop out of business, Il miss it myself as people have said it lessens the amount of places you can even go to browse pain in the hole it is for the poor people losing there jobs too

Cantona's Collars

My local one is probably one of the busiest shops in the town apart from supermarkets,even in this day of downloads and streaming it's still popular.I don't use it to rent stuff but it's the only place near me to buy games etc. without having to go online.Plus a good look through their shelves can unearth some bargains.
It's odd how some people still rent dvd's despite having access to online content.A neighbour of mine downloads like a fiend yet still rents dvd's??

If they do go,I'll miss my local store,I bought my PS1,PS2 & PS3 there over the years.

Loafing Oaf

Went in to the Baggot Street one for the first time in ages the other day, to but the Hobbit blu-ray cos it wasn't in Tesco. Found it unrecognisably different from what I remembered: as many games as movies, extensive range of food & drink etc. Same vibe as HMV really, flailing around desperately trying (and evidently failing) to find a niche...

Most of their stores are profitable so I doubt that it'll be closing it's doors any time soon.

tinyk68

What about those of us who live in rural areas with slow broadband. Downloading movies is a pain in the a**e. I'll miss being able to rent a dvd

Galvasean

brianregan09 wrote: »

I think alot of the bile coming from people comes from when Xtra Vision came in 1st they ran every other video shop out of business,

I used to work in MovieMagic until Xtra Vision bought it out and closed the store a few months later. Do I hold any grudges? Well, no, not really. It was foresight on their behalf really as the place wasn't doing good business and was gonna die sooner or later. MovieMagic saw it for the sinking ship it was and abandoned ship, leaving Xtravision to pick up the tab.

Fun fact: Once XtraVision took over they stopped the selling of 'erotic features' (as per company policy). Shop then goes bust. It could be a coincidence,but I think those things had been keeping the place afloat! :pac:

Loughc

Deisler wrote: »

Are they still accepting gift vouchers?

According to their official Facebook page they are. And they will continue to release new movies and games and any cash deposits are still being honoured.

For anyone with vouchers it's prob the time to cash them in now. Don't leave them like HMV!

JP Liz V1

meoklmrk91 wrote: »

I hope they find a buyer, I have to say I really like xtravision. Their popcorn is serious. They are often much cheaper than GameStop for games. And usually have done great deals on. I will miss it of it goes.

I dont rent but do find a few deals with previously viewed films so I hope also a buyer is found

eyeball kid

Its a shame to see it go, especially for the people working there. I rent quite a bit as my internet at home is only a 3G dongle.
Not download/streaming a film on that!

Hope they find a way to keep the profitable shops open.

Rabidlamb

tinyk68 wrote: »

What about those of us who live in rural areas with slow broadband. Downloading movies is a pain in the a**e. I'll miss being able to rent a dvd

eyeball kid wrote: »

Its a shame to see it go, especially for the people working there. I rent quite a bit as my internet at home is only a 3G dongle.
Not download/streaming a film on that!

Hope they find a way to keep the profitable shops open.

4G is coming, your prayers will be answered soon

krudler

Rabidlamb wrote: »

4G is coming, your prayers will be answered soon

That's a while off for a full rollout though, sure some places still barely have 2G/Edge reception, the broadband infrastructure in this country is shocking.

sweetie

netflix was the final nail I think - my brother in law has it working well on 3mb broadband in the schticks

Gorilla Rising

Loughc wrote: »

Harsh considering 1,024 people will be out of a job when it eventually does die.

I was talking about the name and business model.

Find a buyer and many will remain employed depending on what they want to do with it.

krudler

Galvasean wrote: »

I used to work in MovieMagic until Xtra Vision bought it out and closed the store a few months later. Do I hold any grudges? Well, no, not really. It was foresight on their behalf really as the place wasn't doing good business and was gonna die sooner or later. MovieMagic saw it for the sinking ship it was and abandoned ship, leaving Xtravision to pick up the tab.

Fun fact: Once XtraVision took over they stopped the selling of 'erotic features' (as per company policy). Shop then goes bust. It could be a coincidence,but I think those things had been keeping the place afloat! :pac:

Ha I used to work in MovieMagic as well, the one on the Dublin road in Limerick, and yes the dirty oul fellas probably kept that place afloat :pac:

That was the handiest job ever, I used to do the day shift but didnt drive at the time so my dad would drop me into work on the way to his job and I'd be there an hour or more before the store even opened, but I didnt care as I'd get everything that needed doing done in no time cos there was no customers interrupting and spend the rest of the day sitting there watching movies
I had the imdb top 250 list and would go through it trying to watch as many of them as we had in stock, ahhh teenage jobs with no responsibility, they were the days.

Dempsey

Cant see anyone putting money into a sinking ship, they need a serious think about their business model

Retail Excellence Ireland seem like idiots

Rabidlamb

There was one of the independent video shops across from where I lived in Naas years ago.
If the right lad was on he'd show you the under the counter stuff

Can you imagine From Dusk 'til Dawn used to be under the counter, oh the times we lived in

krudler

Rabidlamb wrote: »

There was one of the independent video shops across from where I lived in Naas years ago.
If the right lad was on he'd show you the under the counter stuff

Can you imagine From Dusk 'til Dawn used to be under the counter, oh the times we lived in

or when some big blockbuster came out and they'd have a waiting list :pac: kids these days will never know what it was like waiting over a year to see something on home video. now stuff is barely out of the cinema and its out to buy, was 12 months at one time, then about 6, now its what, 3-4? The Hobbit is out and that only came out at Christmas.

Rabidlamb

krudler wrote: »

or when some big blockbuster came out and they'd have a waiting list :pac: kids these days will never know what it was like waiting over a year to see something on home video. now stuff is barely out of the cinema and its out to buy, was 12 months at one time, then about 6, now its what, 3-4? The Hobbit is out and that only came out at Christmas.

Oscar screeners are leaking now before the film has had it's Irish cinema release date, kids today have it too easy [shakes fist]

Looper007

This sucks really. I loved going there every month looking at their bargain dvds and 2nd hand rentals ever since HMV closed. Where to go now to buy dvds apart from Tesco and Tower records .