The High Court last night appointed liquidators to four Irish companies that are part of the British fashion group.
Arcadia has 14 stores here including a Topshop and Topman store on Opera Lane in the City - which will continue to trade through Christmas.
Minister of State at the Department of Business, Robert Troy, says it's a difficult time for staff.
"Firstly, my thoughts are with the 487 staff who are employed across 14 stores, mainly Topshop and Topman, who have waken up to this news. There is obviously a sense of huge uncertainty for the long term viability of their jobs. It's coming at a particularly hard time in the run up to Christmas."
