A Limerick-based business school which has been in operation for 60 years has closed.
HSI Limerick Business School ceased trading as of today and a creditor meeting is expected to be held within two weeks and a liquidator appointed.
Management said it was working with Griffith College's Limerick campus to accommodate students who are continuing their studies or who have applied for this year's intake.
HSI said it experienced trading difficulties as a result of the recession, with a decline in demand for professional training and a decrease in demand for part-time courses.
The school said it was also impacted by the introduction of the new immigration regime for full-time non EEA (European Economic Area) students, which led to a drop in demand from international students wishing to study at the college.
The school said it had been working up to the end of last week on a survival plan to protect employment and to sustain the provision of courses at HSI but that this had failed.
The management wish to express their deep regret to the staff of HSI who have been dedicated and professional throughout this difficult period," HSI Limerick said in a statement.
HSI Limerick, which is based on O'Connell Avenue, commenced trading in 1951. Over 80,000 students have passed through its corridors over the years.
A hotline has been set up to assist students. It is open from 9am to 9pm at 061- 310031.