The bulk of the 583 full- and part-time jobs at the company are likely to be lost, Mr Justice Paul Gilligan heard yesterday.

All Xtra-Vision stores are closing with immediate effect.

A decision by credit insurers not to cover transactions was the final blow that led to movie rental chain Xtra-vision being placed into receivership, leaving more than 1,000 jobs hanging in the balance.

DVD rental chain Xtra-vision is yet another victim of the rapidly changing nature of how consumers choose to acquire film and music.