A receiver, Ken Fennell of Kavanagh Fennell, has been appointed to the A-Wear chain of shops after the company failed to exit examinership.
Latzur Limited, trading as A-Wear, has been in the examinership process since 8 October as it tried to restructure and secure jobs at its 31 outlets.
Latzur said sales projections for the business had not materialised and no viable investment proposal was forthcoming.
In a statement, the receiver said the business will continue to trade while he assesses the feasibility of some of the stores over the coming days. But he cautioned it was "inevitable" that some stores will close.
The business employs 358 staff across its locations and head office which is based on Grafton Street, Dublin.
There are a total of 117 full-time staff and 241 part-time staff between all retail operations and the head office functions.
The company had blamed high rents and increased competition for its difficulties.
A-Wear was bought by its current owners from receivers in 2012.
While they managed to reduce the company's annual losses from €5m to €2.5m a year, they said in October that they had taken things "as far as they can".