HMV owners buy film rental company

The future of film rental company Xtra-vision has been secured with British commercial restructuring firm Hilco Capital buying it from receivership for an undisclosed sum.

Joint receivers — Luke Charleton and Colin Farquharson of Ernst & Young — were appointed to the business at the end of April, after it was deemed unfit to meet its debts.

The business employed 1,023 people in 152 stores across the Republic and the North. However, in May, it was announced that 20 stores were closing — nine in the Republic — with job losses totalling 114 people.