"Are European still offering a course as they are in financial 'dire straights' ?"
European have never offered MCC courses. Other course providers hire time on European's simulators. Also as the sim section of European runs at a profit it is likely to continue for some time.
Regarding MCT, I have used them for other simulator work over the last few years (ie not MCC courses) and the instructors are very good, very friendly and with incredible experience.