A receiver has been appointed to the Greenstar waste company, which employs over 800 people and serves over 80,000 households.
The receiver, David Carson of Deloitte, said in a statement that Greenstar had requested that a receiver be appointed.
He said he would run the business as a going concern with a view to effecting a trade sale.
He said all waste collections for residential and the 15,000 commercial customers will continue as normal.
The receiver was appointed after banks demanded immediate repayment of the loans.
In a statement, Greenstar said it was disappointed that its lenders had demanded immediate repayment ''of all Greenstar facilities without any prior indication or notice''.
Greenstar owes over €83m to seven banks - Bank of Ireland, AIB, Ulster Bank, HSBC, Barclay's, Rabobank and Bank of Scotland (Ireland).
It had been working to find an investor for the business.
NTR, the parent company of Greenstar, also issued a statement saying it noted the appointment and that the banks have made their own decision on how they want to move forward.
Greenstar is headquartered in Ballyogan and provides waste collection services in Dublin, Wicklow, Sligo, Limerick, Cork, Kilkenny and Wexford.