Xtravision Shutdown

Bubonic

Not sure how many real bargins there will be but Xtravision Fairview threw up signs for a closing down sale today, with up to 50% off.

Probably only 10% above everyone else now.

I'm sure other stores are heading the same way.

CaSCaDe711

Read very recently the group that saved HMV also stepped in to take over Xtravision :rolleyes:

Bubonic

Yeah, had heard that too, but apparently at least 6 stores are bring shut down. Don't know what other ones are.

FreudianSlippers

CaSCaDe711 wrote: »

Read very recently the group that saved HMV also stepped in to take over Xtravision :rolleyes:

They're vulture capitalists. Almost all companies they have purchased have been stripped of valuable assets and dismantled for scrap. I could be wrong but I wouldn't be investing in the long-term future of Xtravision or HMV.

Boscoirl

The one on the Ennis Road, Limerick is closing

ureds

Castlebar has a closing down sale.

johnwd

By that definition are we vulture capitalists too then if we pick up a bargain??

fergiesfolly

johnwd wrote: »

By that definition are we vulture capitalists too then if we pick up a bargain??

If Xtravision had a few more bargains over the years, they mightn't be closing down

Access

It's the beginning of the end for XV. No matter how much XV bashing we do though (and I include myself in that too), there is a good few employees losing their jobs and that is who I feel bad for.

Any big chain that sells or rents music or video as a physical product is inherently doomed. Both Xtravision and HMV have tried to reinvent themselves, but their core business is gone. It's curtains.

JHet

I feel for the employees but I'm kinda surprised that place didn't go to the wall years ago to be honest.

Leo Demidov

FreudianSlippers wrote: »

They're vulture capitalists. Almost all companies they have purchased have been stripped of valuable assets and dismantled for scrap. I could be wrong but I wouldn't be investing in the long-term future of Xtravision or HMV.

Of which assets do you speak, the rented premises, the stock bought on credit, the existing debts or any future possible redundancy payments? Obviously this crowd think they have invested in a viable business and I'm gonna hazard a guess that they know a damn sight more about business than anyone here. Give them a chance Ffs. Who's to say that they don't have an alternate business model, typical gob****e begrudgery from people who predicted xtravisions demise before everyone else and are now disappointed that they were wrong.

dubrov

wexfjord wrote: »

Of which assets do you speak, the rented premises, the stock bought on credit, the existing debts or any future possible redundancy payments? Obviously this crowd think they have invested in a viable business and I'm gonna hazard a guess that they know a damn sight more about business than anyone here. Give them a chance Ffs. Who's to say that they don't have an alternate business model, typical gob****e begrudgery from people who predicted xtravisions demise before everyone else and are now disappointed that they were wrong.

I doubt they are any white knight.

Looking at their website it seems they specialise in distressed retail companies so not venture capitalists. Xtravision would be right up their street. My guess is they've seen the books and identified a few shops that are still profitable. They'll squeeze these for a few years and probably get far more out of them than they put in.

Expect to see another announcement of Xtravision folding in about 4-5 years.

People who spent their money in Xtravision will just spend it elsewhere and probably create even more jobs given Xtravision is really an import business.

It's 2013 and nobody wants to **** around with returning DVDs, paying late fees, membership cards, having to reserve the latest release, queues, ignorant staff, getting a disc that won't play after you get home with it etc etc. The way things are going they'll be more like a Euro shop. They had their day. Things have moved on. Goodbye.

Leo Demidov

dubrov wrote: »

I doubt they are any white knight.

Looking at their website it seems they specialise in distressed retail companies so not venture capitalists. Xtravision would be right up their street. My guess is they've seen the books and identified a few shops that are still profitable. They'll squeeze these for a few years and probably get far more out of them than they put in.

Expect to see another announcement of Xtravision folding in about 4-5 years.

People who spent their money in Xtravision will just spend it elsewhere and probably create even more jobs given Xtravision is really an import business.

Any investor will look to get more out than they put in? You may well be right about long term viability but isn't it better for everyone to keep these shops open for as long as possible, they contribute to the exchequer, they provide significant employment and social amenity.

WarZoneBrother

Deleted User wrote: »

ignorant staff

+1 on that...

kneemos

Is the video van market opening up again.

Twoandahalfmen

If xtravision and hmv were near to closing down.
How the hell are golden disks still open.

swingking

Eh where's the bargain

paddy147

swingking wrote: »

Eh where's the bargain

You would allmost swear this was the afterhours forum.:pac:


.

paddy147

kneemos wrote: »

Is the video van market opening up again.

Something like this perhaps.....:pac::pac:

arrianalexander

this is no longer a bargain alert post and should be closed

Twoandahalfmen

arrianalexander wrote: »

this is no longer a bargain alert post and should be closed

Trying to act like a mod?

Sappy404

The only reason I don't use Xtravision more is because they closed all their f**king shops. Thomas St, Leonard's Corner, Ranelagh, all gone in the last while, and Rathmines as well now. Such a shame.

If they close Laser on George's Street I'll flip!

Daz_

fergiesfolly wrote: »

If Xtravision had a few more bargains over the years, they mightn't be closing down

It's nothing to do with that. People don't rent movies anymore

Basq

Why does every Bargain Alert thread revolving around CD / DVD rental stores lead to such a tired discussion?

Closed!