Xtra-vision outlets to operate as normal, court hears

XTRA-VISION’S outlets will continue to operate as normal following the appointment of an interim examiner to the company, the High Court heard yesterday.

The company, which has 1,300 employees in more than 180 stores on both sides of the border, sought the protection of the courts from its creditors because it is insolvent and unable to pay it debts as a result of cash-flow difficulties.

Xtra-vision’s difficulties have been caused by factors including falling revenues and a decision by two providers of trade credit insurance to Xtra-vision’s suppliers to withdraw their coverage.