Even with a parachute, you need at least 1000 feet to make an emergency exit for experienced jumpers (preferably more) and at least 2000 feet for tandem skydivers. If you don’t have that, the procedure is to stay seatbelted in and land with the plane. The king Air is a twin engine, not the easiest of twins to fly, configured for skydiving it can have challenging CG characteristics between flight and takeoff/landing configuration, and if you lose one engine, it’s worse than having no engines, as the plane will yaw yard towards the dead engine. Sets up a stall if you don’t respond correctly and immediately. I don’t know that’s what happened but these are things you have to be prepared to handle.
Yard = hard