Nothing new here, GA operators are always on borrowed time. Covid obviously doesn't help.
Thinking back to all the YMMB based training and charter outfits that I have known over the years that are all long gone. Maybe RVAC still exists but what about Schutts, Civils, Peninsula, Ken Sharp's GFS, Campbell-Hicks, Combined, Australian Air Charters, Airchart, Bassair, Flinders Is. Airways, Phoenix, John Corrells, Nicholas Skyways, Jayrow, Pipair, Peter Bini and numerous others that came after I stopped frequenting Moorabbin. Essendon and Bankstown the same.
All have in common is leaving people without jobs.