Guys I've been in aviation for 10 years now, this problem of flight training organisations going bust is nothing new, just as WWW has said pay as you go is as important now as it's ever been.
Dont put yourselves in a situation where any training organisation has lots of your hard earned (or financed) cash in their bank account.
I trained modular and was never more than a few hundred quid in credit at any time.
If any company wants thousands of cash upfront, politely decline and say that your quite happy to keep your account in credit, and stick to your word, it's going to be tough times for FTO's and it's a bit of a buyers market just now (possible understatement).
For those of you training or looking for a job stick with it, I don't doubt you already know that the aviation market is very cyclical (7 years I was told during training and that has been the case in my experience) It will recover from bust to ..... well maybe not boom but it wil recover.
Regards