A spokesman for liquidators Grant Thornton said it “can confirm that Michael McAteer has been appointed provisional liquidator of Xtra-Vision Entertainment today”.
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The depressing entertainment industry news is that up to 580 full and part-time jobs are likely to be shed as a result of Xtra-vision Ireland Ltd. going into provisional liquidation.
Mr Justice Gilligan, who described the situation as unfortunate, appointed Mr McAteer after being told the movie rental firms were insolvent and unable to pay their debts.
According to its website, it has 11 branches in Northern Ireland though some are located within HMV shops.
The appointment of a provisional liquidator would aid the orderly winding up of the company, the court heard.
In November, the company announced it was planning to close 28 stores, which it said at the time would affect close to 90 employees.
The company has entered liquidation, with its stores in the Republic of Ireland and NI being shut down.
The liquidators Grant Thornton said their first priority would be to meet and brief employees at all 83 locations and process their entitlements for redundancy.
They added that over the coming days they will be in contact with all creditors of the company.
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Hilco took-over the Xtra-vision chain in June 2013 after it had previously run into financial difficulties.
