Xtra-vision announces closure of Newry store

Posted by
Tuesday, May 7th, 2013
Business, Community
More local people are set to lose their jobs after the joint receivers for entertainment store Xtra-vision announced that 11 of the group’s stores in Northern Ireland are set to close. The 11 stores in the north will join 9 stores in the south that receivers identified for closure and it is thought the result of this will leave 58 people in the north jobless as well as a further 54 people in the south jobless. It is understood that the Newry store, based at The Quays, is one of the stores set to close during the shake up after the receivers identified it as one of a number of stores with unsustainable trading losses resulting from a fall in revenue. The receivers said they will continue to seek possible buyers and for sale of the business and assets as a going concern and also confirmed they are in discussions with several interested parties. Joint receiver Luke Charleton stated, “It is regrettable that we have had to schedule these store closures and we are extremely grateful to the employees and management at all the stores for their loyalty and support during what has been a very difficult and uncertain time. “We are keen to stress that those stores unaffected by these closures will continue to trade as normal,” he added.
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