This is just tough on businesses, when a major provider of your assets (like a base) goes bankrupt. A reason why it's good to have control over your own destiny.
Similar thing with aircraft leasing, an airline doing fine can be hit by their aircraft leasing company itself going bankrupt, and the fleet suddenly beng lost. You can even find you lose your rented home where the landlord goes bankrupt.
The receiver/manager is bound to realise whatever they can for the assets. If they can provide sufficient income to cover day-to-day expenses, they will do so and it can continue as an airport.
A lot is down to the local authority. If they insist that the place stays as an airport and will receive no planning permission for alternative use, then it only has value as that, and the tenants etc may find they can buy it from the receiver to keep going. If there is any hint that factories, shoppng malls or houses could be built on it then the property developers will move within hours and outbid any aviation activity. What was the local authority's attitude to the airport ?