XTRA-VISION VS. CHARTBUSTERS
Xtra-vision is in talks to take over Chartbusters, its main rival, according to reports in several newspapers. The Sunday Business Post says the home entertainment group wants to buy 15 of the 20 existing Chartbusters’ stores and two other groups are also interested in buying the chain ahead of a High Court petition by the Revenue to wind the group up.
Chartbusters went into examinership last year with debts of €20m and emerged from the process when its creditors agreed to write down 95% of its debts. A deal is expected over the next few weeks.