The High Court has appointed an interim examiner to DVD and video rental chain Chartbusters, which employs 252 people in 42 stores.
The company has debts of €20m, including €12m owed to three banks - ACCBank, Bank of Scotland Ireland and KBC.
The company is owned by Xtra-Vision founder Richard Murphy, property developer John Walsh and builder John McCabe.
The court appointed Neil Hughes as interim examiner, and the case will be back in court on January 19.
A statement from the interim examiner's legal advisors Lyons Kenny said the Chartbusters stores would remain open throughout the process. Examinership gives the company court protection from creditors.
