HR saw what was coming and paid all employee's a few days earlier than the normal January pay date
.
Most were employed for less than two years so limited protection.
If they had gone ATR from the start and not the unreliable Q400 it would still be in business and in partnership with KLM/AF/Delta/Sky Team providing alternative UK regional connectivity from LHR (in competition with IAG) plus the regional P2P routes.
Not getting the aircraft delivered as promised, and naively believing they would be delivered combined with the aircraft in service being so unreliable was the killer. Contrary to popular belief, on the routes where selling seats was the priority they were competing and selling enough seats.
Flying routes to service slot keeping requirements and prioritising those routes (LBA-LHR) added significantly to the £5 mil losses per month.
At least now it's dead and buried for good so everyone can move on, although it is a real shame. 50% of pilots were working their notice period when it folded.
A lot of posters on here can pat themselves on the back for sucessfully predicting the futile nature of the restart. However, I can't recall anyone (including me) predicting the real reasons it would ultimately fail.