The company supplies laundry and linen to healthcare and hospitality sectors
Laundry and linen supplier Celtic Linen has had an interim examiner to the company.
The High Court has approved its application for the appointment of Tom Kavanagh of Deloitte to the firm.
The Wexford-based company, which marked its 100 year of operation this year, supplies laundry and linen rental services to the healthcare and hospitality sectors.
It says it will continue to operate as normal during the examinership, and customers will be unaffected.
The company says the process will be used to "restructure the finances of the business" - with the aim of securing fresh investment to ensure future viability.
The firm says it is currently in discussions with potential investors.
In a statement, Celtic Linen says: "All jobs within the company are secure during the examinership period and all employees will be paid in full throughout the process, which if granted is expected to last for a period of up to 100 days."
It is anticipated that following a full hearing, the examiner will look to agree an arrangement with the company's creditors.
CEO of Celtic Linen, Donald Campbell, said: "Our clear focus now is to utilise the timeframe within the examinership process to restructure our finances in order to secure the long term future of the company and its employees."