Its always sad to hear a story like this, and the thousands who will read the thread will no doubt not be nodding their heads in solemn unison at your unfortunate situation.
The fact of the matter is that less than half of those who complete the training will go on to land jobs and a career as a pilot. It’s a sad reflection of the industry and an even poorer reflection of the FTO’s who will actively hide this fact from you. This is a depressing thought for you, I’d imagine, but don’t beat yourself up about it. Due to the advent of self-funded TR’s and P2F there will be lesser individuals who’s careers will accelerate off into the distance, leaving you behind. It’s no reflection on you, it’s just the way the industry is now.
“Should you continue”- It’s a tricky question. I think I will side with the majority here and say that with your lack of currency etc, you are decidedly less attractive to a potential employer. That being said, all is not lost, there are still avenues open to you. I’d forget about firing CV’s off to Airlines and concentrate on more face-to-face opportunities where you will get a chance to present yourself in person and sell yourself. This could be dropping in to the offices of Private Jet operators to hand in a CV or applying for Operations positions where you are more likely to get called for interview, Im sure you get the idea, but at least here you will have an advantage over the thousands of emailed or mailed CV’s these firms receive each month.
This may sound soul destroying for you (and it is!) but trust me, it works. I was in a similar situation to yours about 2.5 years after qualifying, so shifted my focus. I had my first job shortly afterwards and am now on my second free type rating. Most of my colleagues at my first job got in this way too. Things then become very, very much easier with hours and a TR under your belt.
Your success in this job is inextricably linked to your will to continue. I can’t say if throwing another £100k at it will help you, deep down only you know the answer to this. By this same measure you will also be acutely aware of how life looks for you if you throw in the towel now and melt off into suburbia with an office job?
Good luck.