SIPTU has said that its members working in the Clonmel and Waterford branches of Iceland have reached an agreement to fast-track their statutory redundancy payments and secure all outstanding monies owed to them.
Workers at the Waterford supermarket began a sit-in at the premises five days ago after they were told the store was closing.
Sit-ins have been staged at a number of Iceland supermarkets since June when an examiner was appointed to Metron Stores, which operated 26 Iceland stores in the Republic of Ireland.
Metron Stores was placed into examinership on the grounds that it was insolvent and unable to pay its debts of €36m.
Workers at the Waterford store say they have now reached an agreement with the examiner.
"We are very happy with the resolution but, at the same time, we are sad to have lost our jobs," said SIPTU member Siobhan Delahunty.
SIPTU Organiser Mark Flynn said the agreement was reached with the examiner after several days of extensive negotiations.
"Our members made the decision to sit-in after they received just 30-minutes notice that the Waterford store would close on Tuesday," Mr Flynn said.
"This agreement will see all of their entitlements fast-tracked and paid within the next three weeks," he added.
On Monday, Iceland workers voiced their anger and frustration before the High Court over the manner they say they have been treated by their employer.
The court heard that the examiner Joe Walsh has been working with a proposed new investor and remains of the view that a survival plan for the company can be brought to fruition.
However, the court was also told that Metron may have to close several of its stores permanently.
The matter is due back before the High Court next month.
