VA survived only because SRB had a big asset to borrow against: Virgin Records. If Virgin Records hadn't been there, his airline would've been shut down a LOT earlier. He says as much in his autobiography. He was forced to sell the label (ironically to the company VR had tried to buy before) to satisfy his bank, who gave him the choice of keeping either VR or VA.
Hence him starting V2 Music so he could go back into the record label business.
S.