Business

DVD rentals shop Xtra-vision to axe eight more shops

Xtra-vision is closing yet more stores in the north
Xtra-vision is closing yet more stores in the north Xtra-vision is closing yet more stores in the north

THE permanent demise of the high street DVD/video rentals store moved a major step closer on Friday with confirmation that the Xtra-vision chain will close another eight stores across Northern Ireland in the new year.

It will lead to the loss of more than 30 jobs, including 18 full-time posts.

The stores due to shut before the end of February are in Lurgan, Banbridge, Newcastle, Warrenpoint, Larne, Armagh, Cookstown and Limavady.

It follows shops in Strabane and Derry closing earlier this year after the chain was sold to Hilco Capital Ireland for an undisclosed sum in 2014.

As recently as four years ago Xtra-vision operated close to 200 stores throughout Ireland and employed more than 1,200 permanent staff.

But the rot set in by 2013 as the chain closed 11 stores in the north, blaming it on a continued decline in rentals.

In a statement on Friday the company said it had taken the decision not to renew leases that were due to end in February 2016, because of the continued decline in rental DVDs.

It said: "Xtra-vision is condensing its store portfolio to a smaller number of focused retail locations."

It said it remains dedicated to its investment in Xtra-vision Express, its vending machines operation and its online channels.