This will be a sad loss to Manchesters route network, but the changing fortunes of Airlines cannot be ignored, I hope they get their act together and survive for all concerned.
However I personally would not consider feeding LHR FRA or AMS to use their consolidated service. My loyalty is with Airlines that maintain a major long haul presence at Manchester, so if I do wish to travel to Asia or Auz, Singapore,Emirates, Etihad and Qatar get the pleasure of my bum on their seats !