HMV and Xtra-vision could be joining forces.
Hilco – which now owns both firms – are examining different options, including developing a trading partnership in Ireland between the two well-known shop chains.
The British investment firm is looking at a possible merging of some of the activities of three or more HMV stores with the 130 Xtra-vision stores.
More than 800 staff at Xtra-vision were thrown a lifeline after the investment firm bought the retailer.
Hilco is believed to be in discussions with the landlords and suppliers of Xtra-vision before it makes a final decision on how many stores will be kept open.
HMV, acquired out of administration in April, is in the early stages of recruiting around 100 staff ahead of the reopening of at least three of its stores in Dublin and Limerick.
The most likely are in Liffey Valley shopping centre, Dundrum Centre and in Crescent Shopping Centre, Limerick.
Hilco chief executive Paul Mc Gowan also confirmed: "Deals have been done with landlords. It will take around six weeks but Henry Street is ready to go."