125 jobs are expected to be lost at the 'Birthdays' chain of 13 card shops around the country after a provisional liquidator was appointed by the High Court.
The appointment was made at the company's request after its UK parent company indicated it would not support a loss-making business.
The court heard the shops were losing money and attempts to renegotiate rents with landlords were only partially successful.
The company, which had been trading since 1994, has stores in locations including Blanchardstown, Tallaght and Swords in Dublin. The company also has shops in Athlone, Limerick, Galway, and Clonmel.
The chain is owned by Birthday Retail Ltd, which is a subsidiary of Clinton Cards - the UK's largest greeting cards retailer.
The court today heard that while the firm had made a profit up to 2007, it had been 'haemorrhaging money over the last number of years'. It recorded small losses in 2008-2009. But last year its losses jumped to €1m and it was expected to lose €1.5m by the end of July 2011.
Figures given to the court also revealed that during the busy Christmas and Valentines Day period sales volumes were down almost 11.3% from the same time last year. Similarly the 2010 figures for the same period were down 18.2% from the 2009 figures.
The court was also told that the firm wished 'to act as responsibly as it can' and had paid up to date all of its' unconnected creditors, including its landlords and its employees. The firm's only creditor was its parent company.
Antrim electronics firm to create 130 jobs
A Co Antrim electronics company - Schrader Electronics - is to create 130 new jobs.
Schrader Electronics, based in Antrim town, is involved in the design and manufacture of tyre pressure monitoring system for the car industry.
The investment is worth £29m sterling and the North's jobs creation agency, Invest NI, contributed over £5m to the overall cost.
