Having been in this exact situation before, its very hard to deal with. One of my employers died at 4:30 on a Thursday, we had 30 minutes to get out of the offi

Having been in this exact situation before, its very hard to deal with. One of my employers died at 4:30 on a Thursday, we had 30 minutes to get out of the office before the building management locked the doors, there was no health insurance or severance for anyone (in fact as a contractor I was owed $8000 I never got). At least we all had some idea things were bad so it wasn't a complete surprise. This of course was during the Dotcom collapse so finding another job took me a long time. I've been in company ending situations since then but no matter how many you never feel good. It's easy to feel like you didn't do enough to keep things running (of course its not true) which doesn't help your attitude much. Your job is almost like a family sometimes and that makes it harder. If the employment market is hot its much easier to get over the shock but if its hard to find another job then its much more depressing.