Not that surprising given challenges for all kinds of magazines, but still sad. The part about the archives is also worrying. Wonder what level of debt we’re talking about here. Is it at a level where a moderately affluent benefactor in the tech industry or a crowdfunding campaign could feasibly buy them & donate to the Internet Archive?
Surely the community can support archiving and hosting the existing content, right?
The question with the archives seems to be who’ll own the copyright on them. If the company is bankrupt and ends up liquidated at auction, ownership may end up with one of those miscellaneous companies whose business model is buying up bankrupt companies’ IP and trying to squeeze money out of it. As @hobbes points out in a sibling comment you can actually buy a copy of the archives right now, but that doesn’t give you the copyright allowing you to host a publicly accessible copy.