Anthony, I can't make any predictions about what will happen to the company without Virgin! All I can say is that Virgin would not have been the saviour so many were hoping for - Virgin would have done exactly what you suggest: asset strip BMI.
I don't see anyone else lining up to take on BMI at the moment (though BMI Baby must be ripe for a sale), so I would hope that you have some time to try and sort the company out. Otherwise the future must be somewhat clouded, IMHO.