A number of companies backed by Hilco Capital Ireland Limited have bought Ireland’s leading film retail and rental brand, Xtra-vision, for an undisclosed sum.
The sale was completed by Luke Charleton and Colin Farquharson, of Ernst & Young, joint receivers of the company.
The sale of the business includes the business, stock and head office in Tallaght, and will help to safeguard jobs across the island of Ireland and secures a future for the Xtra-vision brand. There are two Xtra-vision stores in Mayo, in Ballina, and Castlebar.
Joint receiver Luke Charleton said: “In what has been a very challenging time and volatile climate for retailers, it is particularly pleasing to have completed the sale of Xtra-vision, one of Ireland’s strongest retail brands and protecting jobs across the island of Ireland. It provides a solid financial footing on which the business can be taken forward and we wish Hilco Capital Ireland Limited and Xtra-vision every success with the business in the future.”
He continued: “The brand Xtra-vision is well recognised and well respected by customers. We are extremely grateful for the support and loyalty showed by all employees and customers during what has been an uncertain time, and would like to thank everyone at Xtra-vision for their commitment and hard work during the receivership process.”
Joint receivers were advised by William Day of Arthur Cox.