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.