Midland bookmakers Hacketts are to close with the loss of 35 jobs, including those at their Monksland and Moate branches.
The company has been placed in liquidation, and all of their 18 betting shops across the country are to remain closed until further notice.
The company was founded by Cyril and Monica Hackett over 50 years ago in Co Offaly, and at its peak had a total of 65 shops nationwide, with 160 staff and a turnover of €134m.
The directors had sought to restructure the business in recent years by closing 26 stores and selling a further 15 to Paddy Power.
However managing director John Hackett says the business had struggled due to several factors, including increased competition from mobile and online betting.
In addition to Monksland and Moate, shops to close include those in Ferbane, Birr, and Mountmellick.
Declan McDonald and Ken Tyrrell of PwC have been appointed provisional liquidators to the company. An agreement has been reached with Paddy Power to honour any outstanding bets from Hacketts customers through their network of shops.