Bad for the employees of course. But for our materials, how bad could it actually be? They don't make anything we analog photographers are interested in anymore anyway, with the possible exception of Ilfoflex mentioned in another thread as reversal processing very well but the problem with that seems to be very very limited availability.
Might there be a tiny outside chance that a new owner or investor would lead to the re-introduction of Ilfochrome? Probably a miniscule chance if that, but one can hope.