Indeed, this happened to me. I was hosting one SP10 and one Cointerra with a company in Oregon, and they ran into financial difficulties and couldn't pay their landlord. After they defaulted on rent and electricity, their landlord locked them out of their warehouse, and wouldn't allow them to return my equipment to me. I called the landlord directly, but he couldn't legally allow me access to their space either. I ended up paying them a few hundred dollars over what I owed them to help them get me my machines back. It was practically extortion. Not fun.

They had a good insurance policy. I don't think it covered bankruptcy due to mismanagement. I guess I forgot to ask.

(For what it's worth, we paid our landlords 6 months' rent in advance.)