Xtravision stores will continue to operate as normal following the appointment of an interim examiner to the company.
The company sought protection from its creditors at the High Court yesterday as it was unable to pay its debts due to cash flow difficulties.
The court heard that an independent accountant's report had shown that the company has a reasonable prospect of survival and that the majority of its stores are profitable.
A full hearing is expected to take place next month.
Xtravision has 1,300 employees and more than 180 stores on both sides of the border.
