Keep getting error while creating a Virtual Item

When I click ok it takes me to the virtual Item but the details are removed. If I try to put in details and try to save it says new one cant be created as it already exist. I cant delete the old one as del option is disabled not to mention when I try to launch the old one it throws the same again as shown in the attached pic. I've tried for all scopes and using Admin credentials. Pls help