To be fair, Eastern was a shambles before Bristow took over, it’s just that the expected improvement with a “mature” company taking over never happened.
I cant see any place for an independent Eastern in today’s world sufficient to make a credible business and make money. Loganair have stepped up to meet most of the sub 50 seat UK regional flying.
With a dying/old fleet, there needs to be huge capital investment to move forward which I just can’t see happening.