In an article in Business This Week 1 on Friday, September 11th, concerning Mr Paul McGuinness, U2 manager, The Irish Times reported that LeisureCorp had gone into "Chapter 11 bankruptcy protection in the US", and made further reference to a "shell company" remaining.

The Irish Times accepts that these facts are incorrect. LeisureCorp International Limited disposed of its US interests, namely Q-Zar Inc, in 1995 to a US publicly-quoted company. That former subsidiary went into bankruptcy in the US two years after it had been sold by LeisureCorp. LeisureCorp continues to operate in Ireland and has significant assets and operations in Germany.