Great shame - they were a great package holiday airline from a passenger and tour operators perspective one of the best these past few years,
although I gather their Terms and Endearment with pilots and crew were perhaps questionable (P2F pay to fly pilots and work conditions)
Similar to Monarch in some respects. Just too good to survive in this era of pile it high, sell it cheap and to hell with customer service. I suppose you could say "it's the will of the people".