An article published in last Friday's editions of Business This Week incorrectly stated that the community website VirtualIreland.com as well as its parent company, Virtual Communities Inc (VCI), had closed.

The VirtualIreland.com website has not been closed and neither has VCI, although the latter has laid off 50 employees, about one third of its workforce. VCI says it is entertaining offers from parties seeking to invest in or purchase VirtualIreland.com and its other communities, though there are no plans to close those communities. None of the VirtualIreland.com staff has left or been let go, and Brian Rohan remains its Editor-in-Chief.

The Irish Times regrets the error.