A High Court judge has confirmed the appointment of Neil Hughes, of Hughes Blake, as examiner to Peats World of Electronics.
Mr Hughes now has 70 days to assemble a scheme of arrangement for the retailer.
Peats had announced last month its intention to appoint a liquidator through a proposed voluntary creditors' liquidation.
It said it was closing its 11 stores with the loss of 78 jobs.
But due to what the company called ''the goodwill and understanding of the company's suppliers, a wave of goodwill from customers and a subsequent reassessment of the company's stock, debts and liabilities in light of the closure'' alternative solutions emerged.
It reopened its flagship store in Parnell Street in Dublin city centre last week and negotiations are due to commence with a view to reopening other stores in the near future.
"We're delighted the examinership has been approved, for the family, the staff, and especially our wonderfully loyal and supportive customers and suppliers,' commented the company's chairman Ben Peat.
''The goodwill we've experience over the last few weeks, not least at the re-opening of Parnell St is staggering. Peats' determination and ability to stay in business after 78 years despite this recession is a reflection on just how important the brand is to so many people,'' he added.
