The head of Retail Excellence Ireland says at least seven large employers are considering going into examinership, putting over 3,500 jobs at risk.
It comes after Homebase announced yesterday that it is entering examinership in order to try and put the company back on a sustainable footing.
The DIY retailer employs 558 people in 15 Irish stores.
Chief Executive with Retail Excellence Ireland David Fitzsimons said another DIY retailer, B&Q, successfully entered and exited examinership earlier this year - and many retailers are now considering the same solution.
"We are aware of seven large international employers who are taking a very active interest in the B&Q case, and now obviously the Homebase case," he told Newstalk's Breakfast Business programme.
"Yesterday we took legal advice following the B&Q case and made it available to 1,200 retail companies in Ireland.
"Seven of them - who are international retailers with international parent companies - would be actively looking at this as a remedy to the issues that they face."