UP to 100 students whose private business school has closed will have their €250 deposit refunded or be given a place at an alternative college.
Staff and prospective students at HSI Limerick Business School -- owned by former 2fm DJ Michael McNamara -- were informed yesterday that the facility would not open for the upcoming term.
It is understood the school is closing due to a shortage of students applying for full and part-time courses.
Five full-time staff and up to 30 part-time staff were employed at the family-owned business in Limerick city.
Founded in 1951 by the McNamara family as a secretarial school, more than 80,000 students have graduated from the college. Past students included ex-Progressive Democrats TD Liz O'Donnell and poet and writer John Liddy.
Mr McNamara blamed the closure on the economic downturn. "Obviously, it is a very difficult day for me. I have worked 40 years at HSI," he said.
Students enrolling for this term will have their deposits refunded or will be accommodated by Griffith College.