The new plan is to take on Netflix...
The new era of HMV in the Republic of Ireland hasn't lasted long, as news arrives that its remaining stores in the country are set to close.
The four stores employ 45 people – 35 part-time.
Paul McGowan, CEO of HMV owner Hilco Capital, confirmed the closures will take place over the coming months, with offers already in place for sales to other retailers.
The Belfast outlet, now the largest HMV store in the world, will remain open for business.
The move comes after Hilco ended its Xtra-Vision operation in Ireland earlier this year. There had been a HMV presence in a number of those stores.
In February 2013, Deloitte Ireland announced that HMV’s then-16 stores in Ireland were to close permanently with the loss of 300 jobs.
Hilco came to the rescue that August, successfully negotiating with landlords and suppliers to re-open stores in Henry Street, Dublin; Liffey Valley; Dundrum and Limerick’s Crescent Shopping Centre. They also introduced the 26 'shop-in-shops' to its Xtra-Vision chain.
The Liffey Valley store only reopened its doors in October 2015.
The HMV brand is now looking to focus on a new online video-streaming platform, bringing it into direct competition with services such as Netflix.
It is expected to boast 3,000 films available to buy or rent on virtually all smart devices, and arrive either in late 2016 or January next year. It will roll out in Ireland, the UK and Canada initially, with a China move also possible.
Hilco is investing €6.4m into the offering as it looks to a fully digital future.
McGowan told the Irish Independent:
"It's looking pretty good already, we now have heads of terms with all of the major Hollywood studios, plus all of the international guys as well."