Clarke hopes jobs will be protected as Xtra-vision goes into receivership

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Tuesday, May 7th, 2013
Business

South Down Alliance Party spokesperson Councillor Patrick Clarke has voiced his concern at home entertainments company Xtra-vision, which has stores across South Down, after it went into receivership.

Luke Charleton and Colin Farquharson, of Ernst and Young, were appointed joint receivers of the company, which owns local stores in Newry, Downpatrick, Newcastle, and Kilkeel.

Speaking to Newry Times, Clarke stated, “The recent news that Xtra-vision has gone into receivership will be very concerning for the staff who are currently employed by Xtra-vision across South Down.

“I very much hope that the receivers will work with the directors to ensure that Xtra-vision continues to trade as normal, with a view to selling the business as a going concern.

“I have been advised by the receivers that the majority of Xtra-vision stores are profitable and will be attractive to potential buyers once advertised seeking expressions of interest from third parties with a view to securing the early and successful disposal of Xtra-vision.

“The receivers have also stated that they will be working closely with management to assess the viability of each of the Xtra-vision stores.

Clarke added, “I very much hope that all of the stores within South Down can be sold as a going concern to ensure the safeguarding of jobs in the South Down stores.”


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