All six of Budget DIY's Northern Ireland stores have closed.
Administrators Pricewaterhouse Coopers say staff wages will be paid, but all 187 workers were made redundant when the stores ceased trading at noon.
The company went into administration at the weekend. Attempts by the owners to find a buyer proved unsuccessful.
PWC have approached a number of employers to ask if they can offer work to the staff who are now losing their jobs.
It is understood that major retailers and call centres are amongst those who have been asked to help.
All of the outlets opened for business on Thursday morning, except the outlet at Kennedy Way in west Belfast, which was the subject of an attempted armed robbery on Wednesday.
There were extraordinary scenes as the shutters finally came down on Budget DIY's six shops.
It was the actions of the bargain hunters that really grabbed attention at lunchtime.
Many were allowed to fill trolleys with free goods.
'Significant losses'
Teams of accountants from PWC are visiting all the stores and will help staff fill out forms to apply for redundancy from the government.
The Department of Enterprise,Trade and Investment (DETI) has been asked to provide an advisory service for staff.
Budget, founded in 1983, has six stores across Northern Ireland including Bangor, east and west Belfast, Newtownabbey and Londonderry.
In recent years it suffered significant losses as a result of growing competition.
In March 2006, the share capital of the company was acquired by Star Trading Ltd, a wholly-owned subsidiary of the Manchester-based Hilco Group.
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