Zavvi, the music chain formerly known as Virgin Megastores, has been forced into administration.
The chain was rebranded last year, but is now said to be in trouble as the closure of Woolworths stores in the UK has affected the sourcing of stock.
It's thought that the 11 Irish stores will not be immediately affected, but rumours abound that the 3,400 people currently employed by the chain across the British Isles could be in danger of losing their jobs.
It's bad news for people who've received vouchers for the shop for Christmas, too - unfortunately these cannot be used in-store, although you can find details on how to claim a refund (by post) by going to www.zavvi.co.uk. This only applies to vouchers bought AFTER November 27th - it's bad luck for you, otherwise.
For the time being, all stores will remain open as usual.