Own up to it. Get more experience, and go knock it out.

"I had personal issues, and (excuse, excuse)....."

vs.

"I underestimated what it would take, could not keep up, went back and got more experience, the same company let me return (and pass). Learned from the experience..exc...exc"

Either way it's on the PRIA and pilot work history, interview damage control from here on out.