Around 400 people at Target Express are out of work because the Revenue Commissioners rejected a plan to pay off the company's debt.
That's according to the owner of the haulage firm, Seamus McBrien.
The business - based in Mulhuddart in Dublin, but with staff North of the border as well - has ceased trading after its accounts were frozen.
Revenue has declined to comment but Mr McBrien maintains that €1m of debt was already paid off, and plans were in place to clear another €300,000 by September.
"On Wednesday, we told them we'd pay them on Friday. On Thursday they put an attachment on our account," he said.
"We couldn't pay our wages, any money going into our bank account has been frozen.
"On top of that, our four largest accounts...the Revenue wrote to them directly and told them to pay so much back to the Revenue rather than paying it directly through the company."
Meanwhile, 18 Target Express workers have begun a sit-in at the company's Little Island plant in Cork.
Spokesperson John Roche has been telling Cork's RedFM about the current situation.
"The only bit of information we're getting off the company is that a receiver is coming into the company. Basically, the company is gone and our jobs are going to be terminated.
"We're still owed two weeks wages in money, we're owed redundancy and have been told nothing about that.
"We've been told to leave the depot and it was pointless staying in the depot because there's no money there from the company."