Bit late to this, but don't have much sympathy for this lot. They're part of that cohort of clubs whose fans were twats in our darker days, along with the likes of Stockport and Ipswich. They're not important enough for me to keep an eye on them and actively wish them I'll, but I certainly don't feel sorry for them if they encounter hard times.
The issue for Wigan is that they had huge sums in relative terms pumped into the club as compared with their income at the time that old Peg-Leg started the process. The investment was proportionally much greater than ADUG ploughed into City from 2008 as a multiple of turnover at that point.
Yet, while City have successfully grown the club to make it self-sustainable, Wigan have never managed to do that. Their gates are currently boosted by big away followings from large northern Championship clubs, but they still have the third-worst average attendance in the division. Eight teams in the division below are better supported, while their commercial operation is fairly mediocre.
So they need an owner to pump significant sums of cash in if they're to be even a viable Championship survivor. They got that after Peg-Leg until the plug was pulled, and then they got it again to drag them back up.
But those owners now also seem to be losing interest. And why would anyone else pump cash in? There's no point in doing that unless the PL is a realistic aim, and there are many more suitable target clubs for investors with that objective.
TL, DR - Wigan are going back to the lower divisions, and will probably stay there. It's where they belong, so good, fuck them.