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Joint receivers appointed to Xtra-Vision

  • 29-04-2013 02:19PM
    #1
    Closed Accounts Posts: 4,681 ✭✭✭ColeTrain


    Receivers have been appointed today to Xtra-vision, which employs 1,023 people in 152 stores around the country.
    Joint receivers Luke Charleton and Colin Farquharson, of Ernst & Young, were appointed today.
    The Tallaght-headquartered firm said that all of its stores will remain open while expressions of interest in the company are being sought by the receiver.

    http://www.rte.ie/news/business/2013/0429/387458-xtra-vision-receiver/

    Sign of the times. They will be doing well to find a buyer.


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Comments

  • Closed Accounts Posts: 16,096 ✭✭✭✭the groutch


    shame to see so many jobs at risk, but not at all surprised.


  • Closed Accounts Posts: 1,760 ✭✭✭summerskin


    did they dvd it coming?


  • Registered Users, Registered Users 2 Posts: 172 ✭✭crashplan


    Surprised it didn't happen sooner. Hopefully they can save some jobs.


  • Registered Users, Registered Users 2 Posts: 6,605 ✭✭✭Fizman


    summerskin wrote: »
    did they dvd it coming?

    <Tumbleweed>


  • Moderators, Category Moderators, Music Moderators, Politics Moderators, Society & Culture Moderators Posts: 22,380 CMod ✭✭✭✭Dravokivich


    Don't see much use in the rental market, but there can still be demand for retail if it's managed correctly. Guessing it was old debts they have been unable to settle that's brought them to this?


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  • Closed Accounts Posts: 2,511 ✭✭✭Heisenberg1


    summerskin wrote: »
    did they dvd it coming?

    That's a lovely comment to make when so many peoples Jobs look like been lost.


  • Closed Accounts Posts: 1,760 ✭✭✭summerskin


    That's a lovely comment to make when so many peoples Jobs look like been lost.

    Yeah, was a bit shít to be honest.


  • Closed Accounts Posts: 6,414 ✭✭✭kraggy


    summerskin wrote: »
    did they dvd it coming?

    Of course they did. They have xtra vision.


  • Registered Users, Registered Users 2 Posts: 3,808 ✭✭✭FatherLen


    I'm surprised this didn't happen earlier.


  • Closed Accounts Posts: 14,380 ✭✭✭✭Banjo String


    Downloads is where it's at these day's lads.

    Sorry for the employees though.


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  • Closed Accounts Posts: 4,681 ✭✭✭ColeTrain


    summerskin wrote: »
    poor joke previously here.

    You didn't need to edit it imo, I've seen a lot more tasteless jokes on here receive less outrage and this thread has only been open for 10 minutes. It's just when the crisis is closer to home people become more easily offended, it's the AH way.


  • Registered Users, Registered Users 2 Posts: 3,655 ✭✭✭Faith+1


    Feel sorry for the employees but it wasn't going to last especially with the economy and torrents.


  • Registered Users, Registered Users 2 Posts: 2,102 ✭✭✭RossFixxxed


    Seems inevitible, but it's a pity. Renting games was a great money saver, especially with the short time it takes to finish many modern games. The staff were awesome too. However, I've heard many people going just to check what to download that night, this was always going to happen.


  • Closed Accounts Posts: 595 ✭✭✭Steve O


    There is a market for rural areas in relation to game and dvd rentals. If I was to invest, I would close down all the stores in Dublin and revamp the service in rural areas were broadband is poor.


  • Closed Accounts Posts: 1,760 ✭✭✭summerskin


    Steve O wrote: »
    There is a market for rural areas in relation to game and dvd rentals. If I was to invest, I would close down all the stores in Dublin and revamp the service in rural areas were broadband is poor.

    We use the one in Ennis regularly. Living in a rural area we are lucky if we get 1mb download on our supposed 8mb broadband, so torrents, itunes, netflix etc are useless to us.


  • Registered Users, Registered Users 2 Posts: 4,430 ✭✭✭Dartz


    ****.

    Now I feel bad for renting DvD's for one night solely to DvDShrink them.


  • Registered Users, Registered Users 2 Posts: 48,990 ✭✭✭✭Lithium93_


    First HMV goes belly up and now Xtra-Vision... Damn :(


  • Registered Users, Registered Users 2 Posts: 19,801 ✭✭✭✭suicide_circus


    i dont see how they are still in business. i havnt been near a video store for the guts of a decade !


  • Closed Accounts Posts: 4,296 ✭✭✭Frank Black


    i dont see how they are still in business. i havnt been near a video store for the guts of a decade !

    I think they've been renting dvd's/selling games to other people as well.


  • Registered Users, Registered Users 2 Posts: 6,461 ✭✭✭--Kaiser--


    The last time I heard of someone going to Xtra Vision it was to get ideas for films to download


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  • Registered Users, Registered Users 2 Posts: 286 ✭✭Irish_wolf


    Good Riddance I say. Do you hear anyone moaning about how there are no more VHS stores? Or not enough stores for buying cassette tapes? No. These shops are now reduced to novelty one of a kinds in major cities.

    How long have video streaming sites like youtube and netflix been around?

    Xtra-vision was quick to jump on the DVD and blu-ray band wagon and phased out VHS. They should have seen the potential of online movie streaming, even if they didn't get onto it at first they should have been developing something in the last year or so. But nope, nothing. They didn't adapt their business to new technologies and innovations and now they're being left behind.

    I feel bad for the people who lost their jobs. But I dont think we should weep at the passing of Xtra-vision.


  • Registered Users, Registered Users 2 Posts: 2,745 ✭✭✭Thud


    summerskin wrote: »
    We use the one in Ennis regularly. Living in a rural area we are lucky if we get 1mb download on our supposed 8mb broadband, so torrents, itunes, netflix etc are useless to us.

    Wasn't Ennis supposed to be Irelands Information Age Town???


  • Closed Accounts Posts: 1,760 ✭✭✭summerskin


    Thud wrote: »
    Wasn't Ennis supposed to be Irelands Information Age Town???

    Yeah, but we're a fair few miles outside it.


  • Registered Users, Registered Users 2 Posts: 27,365 ✭✭✭✭super_furry


    Think they missed a trick not moving more of their business to games. With HMV and GAME gone in Ireland there definitely a place in the market although maybe the fact that they’re both gone now explains why they didn’t.


  • Registered Users, Registered Users 2 Posts: 2,919 ✭✭✭Schism


    Irish_wolf wrote: »
    Good Riddance I say. Do you hear anyone moaning about how there are no more VHS stores? Or not enough stores for buying cassette tapes? No. These shops are now reduced to novelty one of a kinds in major cities.

    How long have video streaming sites like youtube and netflix been around?

    Xtra-vision was quick to jump on the DVD and blu-ray band wagon and phased out VHS. They should have seen the potential of online movie streaming, even if they didn't get onto it at first they should have been developing something in the last year or so. But nope, nothing. They didn't adapt their business to new technologies and innovations and now they're being left behind.

    I feel bad for the people who lost their jobs. But I dont think we should weep at the passing of Xtra-vision.

    You could feel sorry for them but no one has lost their job, yet.

    Also, I don't think 'Good riddance' is a good way to start a post about a company in dire straits that employs over 1000 people in this country, especially with the overwhelming lack of employment that currently exists.


  • Closed Accounts Posts: 1,308 ✭✭✭Hersheys


    I'll miss xtravision, mainly for their incredible deals on popcorn/drinks/movie snacks. Can't download them!


  • Registered Users, Registered Users 2 Posts: 1,371 ✭✭✭john_cappa


    Times are a changing.

    OT but I went into my local xtravision (I rent at least once a week) and as per usual they have no popcorn left (if they even made it in the first place). Its still two hours till closing time and they are out of the most basic snack. Not only is it basic but their profit margin on it is massive!!!! and its involved in every ****ing one of their meal deals meaning I cant get avail of any of those. Same every second time I go in there.

    I swore last night I was giving them no more money. Looks likely if they fold.

    Yes i like my popcorn.


  • Registered Users, Registered Users 2 Posts: 298 ✭✭IrishExpat


    As a former employee, I was sad to hear the news - I still know quite a few people working there.

    That said, in business it's adapt or die - and the basic model is dying/dead. You can't compete with online torrents and/or services, unless you offer extra value.


  • Closed Accounts Posts: 1,466 ✭✭✭Clandestine


    When I noticed they had replaced half the stock with greeting cards at my local store, I knew something was up.


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  • Banned (with Prison Access) Posts: 9,463 ✭✭✭Celly Smunt


    They used to be handy for when you needed something late at night when gamestop etc would be closed.


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