Xtra-vision Ireland went into receivership in April citing the online market and piracy as the reasons for their downfall within the economy.
The rental chain has now been to Hilco Capital Ireland for an undisclosed sum, according to RTE news.
Paul McGowan, CEO of Hilco Capital said the retailer was “a very strong brand in the Irish market”, which is “a good fit alongside HMV”.
The company, which have just recently taken over HMV, will now take over Xtra-vision’s Headquarters in Tallaght and the company’s stock.
Hilco Ireland’s Larry Howard said the transfer of Xtra-vision stores would take place gradually following discussions with landlords “aimed at regularising the terms and conditions of leases”.
When the company entered receivership, there were 1023 employees across its 152 stores, nine of these outlets were closed by receivers with the loss of 54 jobs.
Good couple of weeks for the entertainment industry in Ireland!
