Up to 114 jobs are to be lost at Xtra-vision in the Republic of Ireland and Northern Ireland.
Up to 54 jobs are to be lost as nine stores in the Republic of Ireland close.
They are in Ongar, Carpenterstown, Roscrea, Rathmines, Baggot Street, Tallaght, Phibsborough and two stores in Swords.
Some staff may be offered jobs in stores where there are vacancies.
Staff in Northern Ireland stores were made redundant and then re-hired due to legislation regarding the continuation of a receivership.
However, 11 stores in Northern Ireland will not be reopening, resulting in about 60 jobs losses.
The joint receivers said the stores were closing because of "unsustainable trading losses resulting from a fall in revenue".
Joint receiver Luke Charleton said: "It is regrettable that we have had to schedule these store closures and we are extremely grateful to the employees and management at all the stores for their loyalty and support during what has been a very difficult and uncertain time.
"We are keen to stress that those stores unaffected by these closures will continue to trade as normal."