Certainly hope not!
I think Monarch has sorted a lot out with the recent negotiations. Hopefully things will continue to improve. Given the 'owners' of the company, doubt it will ever go bust - too good a tax writeoff.!
Shame some of the posters on here are so blind to what is happening at GSM. Perhpas the blindingly obvious is dazzling them through their rose-tinted glasses. A lot of good people are leaving or trying to leave. It's never the sign of a company doing well.