There are multiple polls predicting bad outcomes for the Tories in the coming UK general election. The worst of these, Savanta/Telegraph predicts them ending up as the 2nd largest party with 53 seats, with no high profile candidate safe.
It is plausible, though unlikely, that they will be left with no high profile MPs on whichever wing of the party establishes power in the aftermath of such a defeat. However they have quite a "strong bench" in the House of Lords. We have found out it is possible in the current era to have a lord as the foreign secretary, and in the past it was normal for lords to serve as Prime Minister (perhaps Lord Salisbury was the last?)
How plausible would it be for the official opposition to be led by a Conservative member of the House of Lords in the next parliament? I could mention that at time of writing you can get 30/1 on David Cameron being the next Conservative Leader, but this could happen without him being the leader of the opposition.