The appointment of an examiner to Cappoquin Poultry in Co Waterford has been confirmed by the High Court today.
The chicken processing company employs 135 people and is insolvent, with debts of €6m.
Mr Justice John Cooke noted the impact of the company ceasing to trade but granted court protection with some hesitation, noting that the business's immediate future is precarious.
It is dependent on a twice-weekly supply of chicks from a Dutch company, that has reservations about continuing to trade with Cappoquin.
The court heard it requires a daily cashflow of €120,000.