Exactly, if something like this happens you go there personally and get your items and all expenses you incurred you keep all receipts and sue them for it if you had to travel a distance to get your items.
Filing suit against a company does not mean much when they have no money or assets. It is hard to seize money and assets when the company has none, and that is after money for lawyers and once you win your suit. Basically you are better off saving your money on courts and lawyers and not filing suit.
How can they not have your equipment? They can't sell it to cover their loses as it doesn't belong to them in the first place. Doesn't make sense at all. What we are paying for is a service to run our equipment, if the equipment is not returned back to us after a company goes bust then that means that company employees stole from the customer and hence will be fully liable for the equipment, clear cut case. Anyway I don't have a problem with them so far except the temps are running too hot due to the extreme hot weather but according to them they are working on that.