The liquidator has told the unions that he intends to sell the company as a going concern but all workers are to return to work on Monday.
Tom Rogers has said any potential new owners of the company will have to consider issues surrounding its long-term fianancial viability.
He said he was he was grateful for the support shown by several key car manufacturers towards the workforce.
Mr Rogers said the decision to appoint a liquidator instead of an examiner for the company earlier this week was a matter for the directors of IRALCO who had presumably received advice before going to court on Monday.
The liquidators had set a midday deadline today for confirmation of orders held with the company by four leading car manufacturers.
IRALCO's workforce has already waited four days to see if the factory can reopen.
Liquidators John McStay and Tom Rodgers made proposals to Ford, Volvo, Bentley and Volkswagen in a bid to retain significant orders held with the firm.
Mr McStay said if all four manufacturers pledge their support he would reopen and put the business up for sale as a going concern.
