As ReallyAnnoyed says, a very sad day for Danish aviation, marking the end of not one, but two airlines which have been part of Danish aviation for the best part of half a century.
Cimber has been around since the late 1950s and was one of very few operators of the VFW-614, a German built commuter aircraft.
Sterling began operation in 1963, initially with DC6s, then operated Caravelles until the early 1980s. It then acquired 727s; it was merged with Cimber in 2009.
I guess the CRJ200s - an aircraft which most large carriers have been trying to get rid of, due to fuel costs - can't have helped things.
JetPhotos.Net Photo » OY-RJJ (CN: 7784) Cimber Sterling Airlines Bombardier CRJ-200ER by John Fitzpatrick