Dublin department store Boyers is to close in January.
Fitzwilliam Finance Partners said it planned to close the store with the loss of 83 jobs. SIPTU said the closure affected 48 direct employees of Boyers and a further 30 to 35 concession stand operators.
The news follows the announcement of Clery's closure last June.
Representatives from Mandate and SIPTU are to begin talks with workers and management after the company told staff the closure would happen after an "orderly wind down".
Redundancy packages agreed between unions and management will be paid to staff.
Bosses added no company had been found to manage and run Boyers, which is part of the Arnotts Group, and that there was therefore no choice but to close it.
Fitzwilliam Finance Partners acquired their initial interest in the Arnotts Group in December 2013 and succeeded in acquiring the Apollo interest in July of this year, providing it with 100% control of the Arnotts Group. The purchase of the Apollo interest closed last Friday.
In a statement, Boyers said the decision followed "a strategic review of the future options for the business" and added: "The decision to close the business was a very difficult one and was only taken after Fitzwilliam Finance Partners carefully considered all the options."
Today's announcement will have no impact on the operations of Arnotts Department Store which will continue to trade as normal.