Peats "World of Electronics" is set to immediately exit examinership with up to 25 jobs saved.
In a statement from Retail Excellence Ireland, it said that "this completes a remarkable turnaround for a business which made the headlines in the spring".
Peats announced in April that they were closing their 11 stores with immediate effect.
It cited rising costs and rents and reduced spending power of their customers.
Commenting on the company’s exit from examinership, Ben Peat said because of the goodwill and generosity shown by staff, creditors, suppliers and customers they have managed to turn an initially very saddening experience into a success story.
"I believe our reputation for customer service, excellent advice and good quality built up over 78 years in business has stood to us and I am determined that we look forward and retain this reputation for the next 78,” he said.
David Fitzsimons, CEO Retail Excellence Ireland said: “The retail landscape in Ireland would not be the same without Peats."
It is also calling on the Government to look at passing legislation to make examinership more accessible, "thus allowing retailers, international and indigenous who are crippled by legacy Celtic tiger rents to renegotiate market rents or repudiate leases.”
