About 2,500 jobs are to be lost at British-owned Barratts and Priceless shoe stores, which operates 18 stores in the Republic.
The shops, owned by the Stylo group, were placed in administration at the end of last month.
Administrator Deloitte said today that 220 stores would have to close, but confirmed it had secured the sale of 160 shops and 165 concessions in a move expected to safeguard 3,000 jobs.
The deal has been struck with Stylo’s existing management team, led by chairman Michael Ziff.
Between them, Barratts and Priceless Shoes have more then 400 stores in the UK and employ about 4,500 staff. There are 17 Barratts stores in the Republic, 12 in Dublin, two in Cork and one each in Carlow, Kilkenny and Limerick. Just one Priceless Shoes store is listed in Dublin, at the Nutgrove Shopping Centre.
It could not immediately be confirmed this afternoon which, if any, of the Irish stores will be saved.
A spokesman for the buyer said the company would discuss the matter with the staff affected before any official announcement was made. This is not expected to happen until tomorrow afternoon.
Additional reporting: PA