powerplayer.com closing down????

Somebody at the tables today told me that they heard that powerplayer was going to go under. Does anyone know anything about this? He may have not know what he was talking about...but that is still very scary because they control the bulk of my bankroll right now. Anybody know if there is a way you can check on things like that? In general when sites close down do players lose the money they had in their accounts also?
thanks for any help/info anyone can give
z.p.