Topshop owner Philip Green plans to close 10 stores in Ireland including outlets in Cork, it has been revealed.
The plan to rescue Arcadia will also see 13 stores close in the UK, putting more than 500 jobs at risk.
Dorothy Perkins, Evans and Wallis stores in Cork and Dublin are also set to close, along with Topshop, Topman, and Miss Selfridge shops in Dublin and Galway.
The plan will also see rent cut at another 194 outlets across the UK.
The steps have been described by the retail group as "tough but necessary", according to RTÉ news.
The reorganisation comes in the form of a series of Company Voluntary Arrangements (CVAs), a type of insolvency for troubled businesses that allows rents to be cut.
The move is seen as a final effort by the company to stave off administration or breakup.