Debenhams is to increase its redundancy offer to staff by €1m after more than five months of negotiations.
Workers from 11 stores have been on strike for nearly 150 days since the company said it would enter liquidation in April.
The new deal is also expected to see the department store paying the workers one-third of any profit from the sale of stock.
Meanwhile some staff will be guaranteed future employment after a new leaseholder takes control of at least of the three stores.
The full details will be announced early next week ahead of a ballot of workers.
Gerry Light, General Secretary of the Mandate trade union said: “This deal was only made possible because of the resilience and determination of our Debenhams members who have stood on picket lines through hail, rain and even storms over the last four months.
“They have lobbied, protested and raised consciousness of their plight through the media. They are a credit to their union and to themselves.”
The deal is subject to the pickets around the stores being removed; however, Mr Light urged all workers to stay on the picket line unless and until the deal is accepted.
