A meeting will take place this morning at the Hilton Hotel (Friday) as the Manx government moves to minimise the impact of the closure of the International Hotel School.
Around 20 staff have lost their jobs and up to 100 hospitality students have 25 days before they have to leave the Island.
The problems stem even deeper.
A number of local suppliers have not been paid and businesses are concerned as many of the students work in shops, restaurants, hotels and bars.
Trade and Industry Minister, David Cretney, says what can be done to assist, will be done:
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