Well, that quote from Morrison is fairly clear cut.
Unless "industry wide" is code for a rescue for all equally. However i cannot see intervention as Virgin stands right now. As much as I want them to, I can see why they would not.
Administration likely if it goes on much longer. Major share holders disinterested in further cash being injected.
If it goes into admin, I believe the administrators can force holders to take a haircut and cut payments etc and hopefully get a structure that can live on with as many staff as they can carry.