Virgin cancel flights

I booked a flight to Chicago using SAA air miles, the flights were with Virgin Atlantic, last week Virgin cancelled the flights, i had booked overnight hotel in chicago and also futher flights & hotels in my final destination in new orleans. I have now lost all of these because Virgin cannot get me to Chicago on the specified date. am i entitled to any compensation.
Luckily SAA have reversed my airmiles, meaning i can use them again. But this still leaves me out of pocket of well over 600 quid.

Any idea folks???????

Mark