Newquay went under during a period where COVID restrictions prevented the centre from operating at any level of profit. The margin was already small and sadly, COVID killed it off.
Covid killed it off only because no-one from Draken was out there touting for contracts while everyone else in the industry got on with it.
The Academy was scuppered by lack of investment in modern aircraft and a reliance on a big contract that dropped into their laps.
At every stage they promised far more to the customers than they could ever produce simply because the aircraft were old and tired - relics from DHFS.
The one modern aircraft was left in the hangar rotting for many, many months while they tried to decide whether to sell it or not - when they finally got it up and running, they closed the academy.
Still no excuse to treat the workforce so shabbily when they had worked so hard to make it a success.
I presume someone from Draken got you to sign up to PPrune and make your first post here.